Last Updated :
16 March 2010 at 17:00 IST
Monnet Ispat merges Mount Everest Trading
MUMBAI (Commodity Online): Raipur-based sponge and iron products maker, Monnet Ispat Ltd (BOM:513446) will merge Mount Everest Trading & Investment Ltd (BOM:532724) in itself with a swap ratio of 2:5.
Monnet Ispat today informed the Bombay Stock Exchange (BSE) that the company’s board of directors has given their nod for the proposed merger of Mounteverest Trading & Investment Ltd, a company listed on BSE into itself.
According to the company release, the swap ratio for the proposed merger shall be two equity shares of Monnet Ispat for every five equity shares of Mounteverest Trading & Investment Ltd.
Monnet Ispat supplies and manufactures sponge iron, char and M S ignots, power generation and ferro alloys. It also has a coal mining division, while Mounteverest Trading & Investment is also a BSE listed firm engaged in the trading and investing activity.
Stocks of Monnet Ispat lost on the BSE at Rs.440.20 down by 0.56% from its previous close, while, Mounteverest Trading gained by as much as close to 5% to Rs.143.30.
MCX WHEAT 01 January 2020
contract was trading at
Rs 0 . What's your view on it?
After reading this article, people also read:
