Bannari Amman Sugars board approves proposal to take over Madras Sugars

Bannari Amman Sugars Limited has announced that its Board of Directors approved the proposal to take over M/s Madras Sugars Limited.

Apr 26, 2016 11:04 IST India Infoline News Service

Bannari Amman Sugars Limited has announced that the Board of Directors of the Company has approved the proposal to take over M/s Madras Sugars Limited by way of amalgamation in the nature of merger.
Bannari Amman Sugars Ltd is currently trading at Rs. 1760, up by Rs. 5.75 or 0.33% from its previous closing of Rs. 1754.25 on the BSE.
The scrip opened at Rs. 1758.25 and has touched a high and low of Rs. 1760 and Rs. 1758.25 respectively. So far 904(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 2006.86 crore.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 1784 on 18-Apr-2016 and a 52 week low of Rs. 575 on 08-Sep-2015. Last one week high and low of the scrip stood at Rs. 1765 and Rs. 1675 respectively.
The promoters holding in the company stood at 54.72 % while Institutions and Non-Institutions held 0.18 % and 45.1 % respectively.
The stock is currently trading above its 50 DMA.

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