ManagementHCL Tech firms up on amalgamation plans
The stock surged further to a high of Rs 374. But it pared some of its early gains and ended at Rs 368 - up 3.6 %.. Over 3.2 lakh shares were traded on the BSE today, as against a two-week daily average trade of 1.4 lakh shares.
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The board of directors has approved the scheme of amalgamation under Section 391 to 394 of the Companies Act, 1956, HCL Tech said in a filing to the NSE.
But the approval is subject to sanction by the shareholders, creditors, regulatory authorities and High Court of Delhi, the company further added.