Solar Industries India shares jumped more than 2% in morning trade after the company received NCLT approval for the scheme of Amalgamation Of Rajasthan explosives with arm.
In the exchange filing, the company shared, “The Scheme of Amalgamation involving merger of Rajasthan Explosives and Chemicals Limited (“RECL”) (“Transferor Company”) with one of the wholly owned subsidiaries of Solar Industries India Limited i.e. Emul tek Private Limited (“the Company”) (“Transferee Company”) with pursuant to Section 230-232 and other applicable provisions of the Companies Act, 2013 read with Rules made thereunder has been approved by the Hon’ble National Company Law Tribunal (“NCLT”) Mumbai Bench. The Certified True copy (“Order Copy”) was received to the Company on September 24, 2024.”
As of 9:33 am, Solar Industries India shares were trading 1.33% higher at Rs 11,559.00 on the NSE.
