ADITYA BIRLA NUVO
Stock finding strong resistance at current levels as shown above, technical indicates further price rise can be seen once stock starts trading above its 100 DMA........ Visit our sire for intraday tips india.
Stock was on news - Aditya Birla group plans mega retail merger via share swap. Pantaloons said it will offer up to 20 per cent of stake in tranches to new financial investors on the expanded capital after the merger is over.
Aditya Birla Retail plan.
- Madura Garments, More super stores to be merged with Pantaloon Retail
- Pantaloon to offer 20% stake on the expanded capital of the merged entity
- Birlas not to vote voluntarily at Pantaloons' extraordinary general meeting on preferential allotment to new investors
- Each investor to get one seat on the board of Pantaloon.
- No veto power to any private-equity investor on the Pantaloon board
- Work on valuation and swap ratio going on.
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