Zydus Wellness gains as NCLT approves scheme of amalgamation

Zydus Wellness gains as NCLT approves scheme of amalgamation

Upon amalgamation, Heinz has ceased to be in existence and also to be the subsidiary of the company.

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Share price Zydus Wellness gained more than 1 percent intraday Friday after NCLT approved scheme of amalgamation between Heinz India and Zydus Nutritions.

The company in its press release said that Hon’ble National Company Law Tribunal, Bench at Ahmedabad has passed an order dated May 10, 2019 approving the Scheme of Amalgamation between two subsidiaries, Heinz India with Zydus Nutritions.

Upon amalgamation, Heinz has ceased to be in existence and also to be the subsidiary of the company.

The effective date of the Scheme is May 24, 2019.

At 11:14 hrs Zydus Wellness was quoting at Rs 1,286.00, up Rs 12.75, or 1 percent on the BSE.

The share touched its 52-week high Rs 1,830.00 and 52-week low Rs 1,085.00 on 03 September, 2018 and 15 November, 2018, respectively.

Currently, it is trading 29.73 percent below its 52-week high and 18.53 percent above its 52-week low.

Source- Moneycontrol.

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