Aztecsoft soars on MindTree swap ratio announcement

DALAL STREET SPIKES

Aztecsoft defied the market trend to close 19 per cent higher at Rs 53.15, after the company announced that MindTree's board of directors has approved of a swap ratio (for the amalgamation of the two companies), which will result in immediate gains for Aztecsoft shareholders.

The board has approved the issue of two equity shares of MindTree for 11 held in Aztecsoft. The closing prices of MindTree and Aztecsoft shares on September 26 was Rs 309.95 and Rs 44.70 respectively. Aztecsoft shares made an intraday high of Rs 53.60 and a low of Rs 44.80, with trading volumes of 2,21,150 shares.