Orbit Corporation to merge 3 subsidiaries with the company

Orbit Corporation Ltd has announced that the Board of Directors of the Company at their Meeting held on June 11, 2007, inter alia, have considered and approved the merger of following 3 subsidiaries with the Company:

i) Orbit Constructions and Realtors Pvt. Ltd

ii) Orbit Buildcon and Realty Pvt. Ltd

iii)Orbit Housing Pvt. Ltd

The proposed merger shall be subject to necessary statutory and regulatory approvals as may be applicable.

The stock was trading at Rs.238.20, up by Rs.1.55 or 0.65%. The stock hit an intraday high of Rs.241.80 and low of Rs.235. The total traded quantity was 413145 compared to 2 week average of 2442097.

Source : Equity Bulls

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