Rohit Pulp aborts merger with Marathon Realty Ltd

Rohit Pulp & Paper Mills Ltd has announced that the meeting of the Board of Directors of the Company which was scheduled to be held on August 03, 2007 has been deferred on August 07, 2007. The Board of Directors of the Company at its meeting held on August 07, 2007, has decided that the proposed Scheme of Arrangement of the Company with Marathon Realty Ltd., be aborted due to certain technical reasons.

The stock closed the day at Rs.24.75, up by Rs.1.15 or 4.87%. The stock hit an intraday high of Rs.24.75 and low of Rs.22.50. The total traded quantity was 41844 compared to 2 week average of 10210.

Source : Equity Bulls

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