Astral hits new high on board nod to merger of adhesive arm Resinova

In the past one month, the stock of Astral has rallied 27 per cent, as compared to a 5 per cent rise in the S&P BSE Sensex

Shares of Astral (formerly Astral Pipes) rose 2 per cent to hit a new high of Rs 1,990 on the BSE in intra-day trade on Thursday, taking its gains to 5 per cent in the past four days, after its board on Monday approved the scheme of amalgamation of Resinova Chemie and Astral Biochem Private (ABPL) with the company. Astral holds a 97.45 per cent equity stake in Resinova and a 100 per cent equity stake in ABPL.

In the past one month, the stock of Astral has rallied 27 per cent, as compared to a 5 per cent rise