A day after Aditya Birla group announced the merger of AB Nuvo with Grasim Industries to create an entity with Rs 60,000-crore annual revenue, shares of both companies fell on the stock markets — indicating investors’ ire. AB Nuvo closed the day with 18 per cent loss, while Grasim, after an initial fall, recovered to close flat. Both stocks ended with a loss of Rs 9,935-crore market value in this week’s trading as news of
the merger trickled in. On Friday, as soon as the markets opened, investors sold shares of AB Nuvo, which fell almost 25 per cent. 
No comments:
Post a Comment