 "Federal-Mogul surges 19% after Supreme Court order on open offer")
Shares of multinational company, Federal-Mogul Goetze (India) (FMGIL), hit an all-time high of Rs 660 in intra-day deals on Tuesday. The stock surged 19 per cent on the BSE after the Supreme Court dismissed an appeal against an order passed by the Securities and Exchange Board of India (Sebi) upholding the open offer price. FMCGIL is the Indian arm of US-based MNC Federal-Mogul.
“The Order disposes of the Appeal, upholding the valuation of the shares of FMGIL at Rs 608.46, as directed by the Securities Exchange Board of India (Sebi),” FMGIL said in a regulatory filing.
Last month,
“The Order disposes of the Appeal, upholding the valuation of the shares of FMGIL at Rs 608.46, as directed by the Securities Exchange Board of India (Sebi),” FMGIL said in a regulatory filing.
Last month,
