India's V Guard Industries rises as NCLT sanctions scheme of arrangement

V Guard Industries

03/04/2023 09:43

** Shares of V Guard Industries  VGUA.NS  rise as much as
2.2% to 255.55 rupees, highest since March 20
    ** NCLT sanctions a scheme of arrangement between co and
Simon Electric
    ** Scheme for co to amalgamate with and acquire businesses,
investments, properties, assets and liabilities of Simon
Electric
    ** Stock on track to rise for third consecutive session, if
trends hold
    ** About 99,000 shares change hands by 1:52 p.m. IST, 0.7x
the 30-day avg - Refinitiv data
    ** Eleven analysts rate stock equivalent of 'buy' or higher,
seven 'hold' and three 'sell' or lower; median PT is 275 rupees 
    ** Stock down 4.3% so far this year, as of last close

 (Reporting by Priya Sagar in Bengaluru)
 ((Priya.Sagar@thomsonreuters.com;))