Wheels India shares rise 4 pc post board's approval for amalgamation with Sundaram Hydraulics

Shares of Wheels India Ltd on Thursday increased nearly 4 per cent a day after its board approved amalgamation of Sundaram Hydraulics Ltd with the company.On the BSE, the scrip jumped 3.74 per cent to end at Rs 689.35.

Shares of Wheels India Ltd on Thursday increased nearly 4 per cent a day after its board approved amalgamation of Sundaram Hydraulics Ltd with the company.

On the BSE, the scrip jumped 3.74 per cent to end at Rs 689.35. It was trading at a high of Rs 699.4 during the day.

Likewise, on NSE, the scrip went up by 3.64 per cent to close at Rs 688.05. It had touched a high of Rs 700.05 during the trading session.

In a regulatory filing on Wednesday, the company informed that its board considered and approved a scheme of amalgamation which entails amalgamation of Sundaram Hydraulics with Wheels India and their respective shareholders.

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