Sintex Ind Jumps Over 7% On Board Nod For Demerger Of Biz

Shares of Sintex Industries surged over 7 per cent on the Bombay Stock Exchange after its board approved the composite scheme of arrangement for the demerger of the 'custom moulding business' and the 'prefab business' from Sintex Industries to Sintex-BAPL and Sintex Infra Projects, respectively.

Sintex Ind Jumps Over 7% On Board Nod For Demerger Of Biz
Sintex Industries: Quotes, News
BSE 86.10BSE Quote1.45 (1.68%)
NSE 86.55NSE Quote1.75 (2.02%)

Buoyed by board approval, shares of company gained as much as 7.60 per cent to trade at Rs 78.50 apiece on Bombay Stock Exchange.

In a similar fashion, stocks of company rose 6.38 per cent to Rs 77.55 apiece on the National Stock Exchange.

Meanwhile, the broader benchmark BSE Sensex was trading at 27,799.30, down 28.23 points, or 0.10 per cent at 12:00 hours.

Read more about: sintex industries
Story first published: Friday, September 30, 2016, 12:50 [IST]
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