Gujarat Gas Ltd (GGL) stock was buzzing in trade on Monday, with the scrip rallying as much as 13.63 per cent to hit an intraday high of ₹689.45 on the BSE.
This comes after brokerages said they were optimistic about GGL following the board's approval of a merger and demerger plan involving Gujarat State Petroleum Corporation (GSPC) and Gujarat State Petronet (GSPL).
Analysts believe that the restructuring of these Gujaratbased companies will simplify the existing layered structure.
According to the scheme, GSPC (10 GGL shares for 305 GSPC shares) and GSPL (10 GGL shares for 13 GSPL shares) will first be amalgamated into GGL.
Subsequently, the gas transmission business will be demerged and listed as a new entity called GSPL Transmission (GTL).
GGL will retain the city gas distribution (CGD) business, along with GSPC's gas trading, exploration and production (E&P), renewables, and other investments.
Considering this, here's what brokerages interpret from this merger and demerger plan:
Nuvama
Denne historien er fra September 03, 2024-utgaven av Business Standard.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent ? Logg på
Denne historien er fra September 03, 2024-utgaven av Business Standard.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg på
Low valuation sparks interest in IndusInd
Analysts believe worst may be over for lender after sombre Q2 results
Demand, margin gains ahead for UPL
Agrochemicals manufacturer UPL reported a muted quarter as operating profit remained flat on a year-on-year (Y-o-Y) basis, due to a price decline (down 7 percent Y-o-Y) and surplus capacity in China.
Exchanges roll back direct payout of securities to client accounts
The National Stock Exchange (NSE) and BSE on Tuesday announced rollback of the direct payout of the securities to client demat accounts—which was enabled on November 11.
Swiggy makes market debut today
Shares of food delivery major Swiggy will make stock market debut on Wednesday following its ₹11,327 crore initial public offering (IPO), second biggest this year and sixth-largest to hit the domestic market.
NTPC Green Energy IPO eyes $12 bn Valuation
NTPC Green Energy Ltd is considering seeking a valuation of about $12 billion in what could be one of India's biggest initial public offerings (IPO) in the renewable energy industry, according to people familiar with the matter.
Sebi simplifies process for registration of certain FPIs
Abridged version of application form to be available in 3 months
11 of 17 Nifty sector indices in correction mode
As many as 11 of 17 frontline Nifty sector indices are in 'correction' mode with energy, auto and central public sector enterprises (CPSE), consumption, and fast-moving consumer goods (FMCG) suffering the most in the recent market fall, according to data.
Nifty falls to near 5-month low
Earnings disappointment and foreign outflows continue to weigh on markets
BITING THE BULLET
The Bullet Train has been a 'dream project'. Can it become a reality anytime soon?
India to be among top 3 or 4 mkts for Siemens in 3 years
Country now contributes 3.5-4% to the firm's revenue