Mahindra Forgings considers amalgamation of group companies

Mahindra Forgings Ltd has announced that the Board of Directors of the Company at its meeting held on April 26, 2007, inter alia, has considered a proposal for amalgamation of Mahindra Stokes Holding Company Ltd, Mahindra Forgings Overseas Ltd and Mahindra Forgings Mauritius Ltd with the Company. For the purpose of determining the share swap ratio the Board has appointed M/s. N M Raiji & Co. and M/s. Dalal & Shah as Valuers and M/s. Khaitan & Co. and M/s. Kotak Mahindra Capital Company Ltd as Advisors.

Further the Company has informed that, the Board in the aforesaid meeting has appointed Mr. Harald Korte as Additional Director of the Company.

The stock closed the day at Rs.232, down by Rs.1 or 0.43%. The total traded quantity was 4610 compared to 2 week average of 2978. The stock hit an intraday high of Rs.235 and intraday low of Rs.228.30.

Source : Equity Bulls

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