JTEKT India jumps on 'no adverse observations' on its merger plans from exchanges

Jtekt India

18/11/2022 10:15

** Shares of JTEKT India  JTEK.NS , which assembles and
manufactures automotive components such as steering systems and
driveline products, rise over 8.2% to 129.89 Indian rupees
($1.59), a 52-week high
    ** About 32,49,741 shares traded as of 0956 GMT, more than
6x the 30-day average of 4,93,018
    ** Company says it received communication from exchanges
with "no adverse observations" regarding scheme of amalgamation
of JTEKT India and JTEKT Fuji Kiko Automotive India on Thursday
    ** Company had approved the merger scheme on July 6, 2022
    ** The relative strength index is 79, suggesting the stock
may be overbought
    ** Stock closed with gains over 7.5% at 129 Indian rupees
($1 = 81.6900 Indian rupees)
 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com))