India's Jubilant Industries jumps most in over 3 months on restructuring plan

Jubilant Industries

25/02/2021 08:18

** Shares of agrochemical and polymer maker  JUBL.NS  jumps
as much as 10.2% to 231.20 rupees, their biggest intraday pct
gain since Nov 13 
    ** Co is considering a merger or restructuring of company
and unit Jubilant Agri and Consumer Products, Jubilant
Industries said https://www.bseindia.com/xml-data/corpfiling/AttachLive/144edb48-3482-41d6-b6ff-fa5660c69f2e.pdf
    ** Adds that no definitive binding proposal or arrangements
have been made for the restructuring or reorganization yet
    ** Stock hits highest since Feb 9
    ** Says considering restructuring to reduce expenditures
and to streamline shareholding of Co
    ** Currently does not expect the proposed restructuring to
change shareholding of the promoter and promoter group in Co
    ** Around 272,639 shares change hands by 0750 GMT, vs 30-day
avg of 35,022 shares
    ** Stock down 10% this year as of last close
    
    

 (Reporting by Chandini Monnappa in Bengaluru)
 ((Chandini.M@thomsonreuters.com; 910867497919;))