IPCL shareholders & creditors approve Scheme of Amalgamation

Indian Petrochemicals Corporation Ltd (IPCL) has announced that Shareholders, Secured Creditors and Unsecured Creditors of the Company at their Court Convened Meeting held on April 14, 2007, have approved the Scheme of Amalgamation of the Company with Reliance Industries Ltd (RIL).

The Company on April 18, 2007 has filed petition seeking approval of the Hon'ble High Court of Judicature, Gujarat for sanction of the Scheme.

The stock was trading at Rs.294.05, down by Re.0.20 or 0.07%. The stock hit an intraday high of Rs.295.10 and low of Rs.288.10. The total traded quantity was 86493 compared to 2 week average of 309624.

Source : Equity Bulls

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