Tuesday 22 December 2015

Bombay HC approves amalgamation of Clear Mipak Packaging with Hitech Plast

Hitech Plast Ltd has announced that the Company has received certified copy of the Order dated November 20, 2015 passed by the High Court of Judicature at Bombay approving the Scheme of Amalgamation.


Hitech Plast Ltd has announced that the Company has received certified copy of the Order dated November 20, 2015 passed by the Hon'ble High Court of Judicature at Bombay approving the Scheme of Amalgamation of Clear Mipak Packaging Solutions Limited (Transferor Company) with Hitech Plast Ltd. (Transferee Company) on December 14, 2015.

The same has been filed to the Registrar of Companies, Maharashtra, Mumbai on December 17, 2015.

Hitech Plast Ltd ended at Rs. 190.6, up by Rs. 3.7 or 1.98% from its previous closing of Rs. 186.9 on the BSE.

The scrip opened at Rs. 189.7 and touched a high and low of Rs. 196 and Rs. 187.6 respectively. A total of 130888(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 289.25 crore.

The BSE group 'B' stock of face value Rs. 10 touched a 52 week high of Rs. 209.7 on 16-Dec-2015 and a 52 week low of Rs. 80 on 25-Aug-2015. Last one week high and low of the scrip stood at Rs. 209.7 and Rs. 163 respectively.

The promoters holding in the company stood at 71.06 % while Institutions and Non-Institutions held 0.03 % and 28.91 % respectively.

The stock traded below its 50 DMA.

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