GOCL Corp shares jump 9% after board approves merger with Hinduja National Power
AI Summary1 min read
TL;DR
GOCL Corp shares surged 9% following board approval of a merger with Hinduja National Power, aimed at boosting efficiency and growth. Shareholders will receive GOCL shares in exchange, increasing promoter holding to 74.87%.
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GOCL CorpmergerHinduja National Powershare priceshareholder value
GOCL Corp's shares rose 9% after the board approved a merger with Hinduja National Power Corporation. The merger aims to consolidate operations, improve efficiency, and enhance long-term growth and shareholder value. Shareholders of HNPCL will receive 206 fully paid-up GOCL shares for every 10,000 HNPCL shares held. Post-merger, GOCL's promoter holding will rise to 74.87%, while public shareholding will fall to 25.13%.
