GG Engineering shares update on amalgamation with Integra Essentia - Check details

Infrastructure major GG Engineering has shared an update related to the amalgamation with Integra Essentia. According to the information shared, the board of directors of the company has considered and approved modifications to the scheme of arrangement for amalgamation.

"Based on the suggestions and recommendations received from BSE Limited (‘BSE’), the Board of Directors in their Meeting held today dated i.e. August 14, 2024, has considered and approved modifications to the Scheme of Arrangement for Amalgamation i.e. the addition of a specific clause with respect to the reclassification of the promoters of the Transferor Company as public category shareholders in the Transferee Company upon the effectiveness of the Scheme along with other clerical modification."

All other previously approved terms and conditions by the board will remain unaltered.

Meanwhile, equity benchmark indices Sensex and Nifty surged in early trade on Friday following a sharp rally in global markets along with buying in IT stocks and Reliance Industries.

The 30-share BSE Sensex jumped 805.96 points to 79,911.84 in early trade. The NSE Nifty surged 252.05 points to 24,395.80.

All the 30 Sensex firms were trading higher in early trade. Mahindra & Mahindra, Tata Motors, Tech Mahindra, Tata Consultancy Services, HCL Technologies, Reliance Industries, ICICI Bank, JSW Steel, Infosys and IndusInd Bank were the biggest gainers.

In Asian markets, Seoul, Tokyo, Shanghai and Hong Kong were trading significantly higher.

The US markets ended with sharp gains on Thursday.