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Aditya Birla Capital rallies 6% on plans to merge Aditya Birla Finance

Analysts believe that the amalgamation scheme would offer key positives to Aditya Birla Capital, which includes simplified operations and elimination of Holdco discount.

Following the sharp run-up, returns are expected to plateau.
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Deepak Korgaonkar Mumbai

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Shares of Aditya Birla Capital rallied 6 per cent to Rs 190.65 on the BSE in Tuesday's intra-day trade after the company announced amalgamation of Aditya Birla Finance, its wholly-owned subsidiary, with itself, subject to regulatory approvals.

At 01:06 pm; the stock was trading 2 per cent higher at Rs 183.70, as compared to 0.25 per cent rise in the S&P BSE Sensex. The average trading volumes at the counter jumped over three-fold. A combined nearly 24 million equity shares changed hands on the NSE and BSE. The stock had hit a 52-week high of Rs 199.40 on July 3, 2023.

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First Published: Mar 12 2024 | 1:21 PM IST

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