India's Devyani International jumps after exchanges clear proposed merger with Sapphire Foods
Tue 05:24
BUZZ-India's Devyani International jumps after exchanges clear proposed merger with Sapphire Foods ** Shares of Devyani International DEVY.NS jump 5.39% to 117.21 rupees
** KFC India operator says it has received a "no objection" letter from NSE and a "no adverse observations" letter from BSE for its proposed merger with Sapphire Foods India SAPI.NS
** Co says deal remains subject to approvals from regulators, shareholders and creditors
** DEVY rated "buy" on average by 23 analysts, median PT at 155 rupees - data compiled by LSEG
** YTD, stock down 20.83%
(Reporting by Surbhi Misra in Bengaluru)
((Surbhi.Misra@thomsonreuters.com | X: https://twitter.com/SurbhiMisra_ |;))
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