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Vakrangee gains 28% in 2 days after rolling back amalgamation scheme

The board withdrew the proposed amalgamation of Vakrangee Logistics and Vakrangee Finserve with Vakrangee Ltd

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The company had, in March 2020, filed Scheme Application with National Company Law Tribunal, Mumbai

2 min read Last Updated : Nov 27 2020 | 2:07 PM IST

Shares of Vakrangee moved higher by 14 per cent to Rs 39.70 on the BSE in the intra-day trade on Friday, surging 28 per cent in the past two trading days, after its board approved the withdrew amalgamation scheme for two wholly-owned subsidiaries due to "substantial changes in the business environment".

The company had, in March 2020, filed Scheme Application with National Company Law Tribunal, Mumbai (NCLT) which is presently pending with NCLT to seek appropriate directions.

"Since then, there have been substantial changes in business environment in the last few months and the management of the Company is of the opinion

Topics : Vakrangee Buzzing stocks Markets

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