Shares of Inox Leisure and Fame India gained ahead of the board meetings of the two respective companies to consider the merger of the two companies.
"The board of directors of the company will meet on June 15, 2012, to consider amalgamation of Fame India, a subsidiary of the company and its existing wholly owned subsidiaries namely, Fame Motion Pictures Limited, Big Picture Hospitality Services Private Limited and Headstrong Films Private Limited with the company," Inox Leisure had said in a filing to the BSE last week.
Shares of Inox Leisure were trading at Rs.51 up 2.2% over the previous close. It had touched a day’s high of Rs.52.20 and a day’s low of Rs.50.20. The total traded quantity of the shares stood at 24,000 shares on the BSE.
Shares of Fame India were locked in the 5% upper price limit at Rs.47.40. The total traded quantity of the shares stood at 2,804 shares on the BSE.