India's Mirza International rises on NCLT nod for amalgamation

Mirza International

22/02/2023 04:55

** Shares of Mirza International Ltd  MIRZ.NS  rise as much
as 5% to 292.5 rupees, highest since Dec. 12, 2022
    ** Co says NCLT approves amalgamation of RTS Fashions with
and into Mirza International
    ** NCLT also approves demerger of co's Redtape business into
separate company called Redtape Ltd
    ** Stock trading above 50-day, 100-day and 200-day moving
avgs, first since Oct. 24, 2022
    ** More than 890,000 shares change hands in early trade,
1.1x the 30-day avg
    ** Stock gained 96.6% in 2022, second straight year of
annual gains
 (Reporting by Aleef Jahan in Bengaluru)
 ((aleefjahan.cs@thomsonreuters.com; +91 8075473630;))