JSL, JSHL hit new highs ahead of merger; zoom over 100% in 6 months

Jindal Stainless (Hissar) has fixed Thursday, March 9, 2023, as the record date for its merger with Jindal Stainless with a swap ratio of 1: 1.95

Shares of Jindal Stainless (JSL) and Jindal Stainless (Hisar) (JSHL) continued at their northward movement, hitting their respective new highs on the BSE in Wednesday's intra-day trade, ahead of their amalgamation.

JSHL has fixed Thursday, March 9, 2023, as the record date for its merger with JSL. JSHL board had approved the merger of JSHL into JSL with a swap ratio of 1: 1.95. For each share held in JSHL, a shareholder will get 1.95 shares of JSL.

Against this backdrop, shares of JSL rallied 6 per cent to Rs 318.80 in the intra-day trade today, while JSHL