Mahindra Forgings to consider merger of companies including Mahindra Composites Ltd, Mahindra Ugine Steel Ltd

A meeting of the Board of Directors of Mahindra Forgings Ltd will be held on June 15, 2013, to consider an Integrated Scheme of Amalgamation under Section 391 to 394 of the Companies Act 1956, involving Mahindra Hinoday Industries Limited, Mahindra Ugine Steel Company Limited, Mahindra Gears International Limited, Mahindra Investments (India) Private Limited and Participaciones Internacionales Autometal Tres S.L. ("Transferor Companies") with Mahindra Forgings Limited ("Transferee Company") share swap ratio and other consequential matters.

A Composite Scheme of Merger under Section 391 to 394 of the Companies Ad, 1956, involving merger of Mahindra Composites Limited with Mahindra Forgings Limited, share swap ratio and other consequential matters.

Shares of Mahindra Forgings Ltd was last trading in BSE at Rs.66.85, up by Rs.8.15 or 13.88%. The stock hit an intraday high of Rs.68.40 and low of Rs.59.40.

The total traded quantity was 6.25 lakhs compared to 2 week average of 2.59 lakhs.

Shares of Mahindra Composites Limited was last trading in BSE at Rs.32.85, up by Rs.1.55 or 4.95%. The stock hit an intraday high of Rs.32.85 and low of Rs.32.85.

The total traded quantity was 3222 compared to 2 week average of 1483.

Shares of Mahindra Ugine Steel Company Ltd was last trading in BSE at Rs.65.20, up by Rs.8.35 or 14.69%. The stock hit an intraday high of Rs.66.50 and low of Rs.58.35.

The total traded quantity was 3 lakhs compared to 2 week average of 0.80 lakhs.

Source : Equity Bulls

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