Monday, 29 May 2017

What Reason behind on Sintex industry & Sintex plastic

DSR Broking

Under the said scheme of arrangement, shareholders of Sintex Industries will get one share of Sintex Plastic Technology for every share of Sintex Industries held on the record date.


Shares of Sintex Industries rose as much as 20 percent intraday Friday post the demerger of its custom moulding business in to seperate entity.
Yesterday the stock was ended down 75 percent (rose as much as 94 percent during the day) as it started trading ex-scheme of arrangement with effect from Thursday.
READ FULL - : Report in Img
In September 2016, the company had approved a composite scheme of arrangement for the demerger of the custom moulding business from Sintex Industries into Sintex-BAPL and prefab business from Sintex Industries to Sintex Infra Projects.
The company fixed May 26, 2017 as the record date for the purpose of reckoning the names of the equity shareholders of Sintex Industries who shall be eligible for allotment of fully paid up equity shares of Sintex Plastic Technology.
Under the said scheme of arrangement, shareholders of Sintex Industries will get one share of Sintex Plastic Technology for every share of Sintex Industries held on the record date.
Shares of Sintex Plastic Technology will be listed separately.
On May 24, 2017 Credit Suisse (Singapore) A/C Credit Suisse (Singapore) sold 32,91,709 shares of Sintex Industries at Rs 104.13. However, Merrill Lynch
Markets Singapore Pte sold 30,17,625 shares at Rs 105.11.

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