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Friday, 12 August 2016

Stock Market: Sensex Up Over 100 pts, Nifty Firm

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The Sensex is up a hundred and forty.66 points or 0.5 p.c at 28000.26, and also the groovy is up 30.65 points or 0.4 p.c at 8622.80. regarding 888 shares have advanced, 405 shares declined, and fifty two shares square measure unchanged. Axis Bank is up three p.c. BHEL, Tata Motors, L&T and Tata Steel square measure high gainers within the Sensex.
AB Nuvo plunged twenty two p.c whereas Garsim is down seven p.c. The boards of AB Nuvo and Grasim have entered into a two-way restructuring method to merge AB Nuvo into Grasim.
 The shareholders of AB Nuvo, for each one hundred shares can get thirty shares of Grasim. the primary step involves merging AB Nuvo with Grasim following that the money services business of AB Nuvo can acquire Aditya Birla money Services (ABFSL). ABFSL is anticipated to be listed on stock exchanges post the merger. Shareholders of AB Nuvo can get 210 shares in ABFSL for each one hundred shares post the listing whereas the Grasim shareholders, holding one hundred shares, can get 700 shares within the money business.

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