India's Nxtdigital soars on approval to transfer some businesses

Ndl Ventures

18/02/2022 05:42

** Shares of Hinduja Group's media company  NXTD.NS  jump as
much as 18.5% to 474.50 rupees - on track for their best day in
over four months
    ** Board clears transfer of NXTD's digital, media and
communications business to IT service management firm Hinduja
Global Solutions  HGSL.NS   urn:newsml:reuters.com:*:nBSE7Nx2VN
    ** Each NXTD stockholder will get 20 shares of HGSL for 63
shares held
    ** Demerger on a going concern basis
    ** Transfer to help expand in the digital space - NXTD
    ** HGSL shares down 0.8% at 2,752.55 rupees
    ** Including session's gains, NXTD stock is up ~20% this
year

 (Reporting by Shivani Singh in Bengaluru)
 ((ShivaniSingh1@thomsonreuters.com; +91 89 6969 2349))