SKF India shares jumped more than 3% after the board approved demerger of automotive and industrial businesses via a scheme of agreement.
According to an exchange filing, the company has authorized the corporate restructuring committee to begin preparing a detailed scheme for the proposed demerger.
Before making a final decision, the company will consider the detailed scheme and make any necessary disclosures to the exchanges.
As of 9:43 am, SKF India shares were trading 3.06% higher at Rs 5,327.20 on the NSE.
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