Talwalkars gets nod to demerge its Gym business; stocks up 5%

India Infoline News Service | Mumbai | November 25, 2016 16:48 IST

The Board of Directors of Talwalkars Better Value Fitness at its meeting held on November 24 approved scheme of arrangement between Talwalkars Better Value Fitness (Demerged Company) and Talwalkars Lifestyles (Resulting Company) and their respective shareholders providing for the demerger of Gym Business of Talwalkars Better Value Fitness to Talwalkars Lifestyles.

Talwalkars Better Value Fitness
Talwalkars Better value Fitness Ltd currently trading at Rs 238.2, up by Rs 11.15 or 4.91% from its previous closing of Rs 227.05 on the BSE.

The Board of Directors of Talwalkars Better Value Fitness at its meeting held on November 24 approved scheme of arrangement between Talwalkars Better Value Fitness (Demerged Company) and Talwalkars Lifestyles (Resulting Company) and their respective shareholders providing for the demerger of Gym Business of Talwalkars Better Value Fitness to Talwalkars Lifestyles.

The scrip opened at Rs 238.5 and has touched a high and low of Rs 239.55 and Rs 232.65 respectively. So far 165816 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 674.45 crore.

The BSE group 'B' stock of face value Rs 10 has touched a 52 week high of Rs 302.05 on 03-Oct-2016 and a 52 week low of Rs 182 on 29-Mar-2016. Last one week high and low of the scrip stood at Rs 241 and Rs 224 respectively.

The promoters holding in the company stood at 37.99 % while Institutions and Non-Institutions held 19.86 % and 42.15 % respectively.

The stock is currently trading below its 50 DMA.

***Note: This is a NSE Chart

 

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