Jyothy Labs up 4% ahead of board meeting for amalgamation
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Jyothy Labs up 4% ahead of board meeting for amalgamation
Jyothy Laboratories gained as much as 4.3% to intraday high of Rs 239.50 as board members will consider amalgamation with Henkel India on June 15.
Jyothy Laboratories gained as much as 4.3% to intraday high of Rs 239.50 as board members will consider amalgamation with Henkel India on June 15.
In a release sent to exchanges, company said, “A meeting of the board of directors will be held on June 15, 2012, to consider the proposal of amalgamation of Henkel India Limited (HIL) with Jyothy Laboratories Limited (JLL) and the valuation report for the purpose of exchange ratio.”
At 14:24 hours IST, the share was trading at Rs 237, up 3.20%. Market capitalisation of the company currently stands at Rs 1,910.98 crore.
Even its trading volumes spiked to 44,316 shares as compared to its 5-day average of 9,412 shares.
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