Kalpataru Power, JMC hit 52-week highs on fixing record date for merger

Pursuant to the amalgamation scheme, JMC's shareholders (other than KPTL) will be allotted one share of KPTL against every four shares held by them in JMC.

Shares of Kalpataru Power Transmission (KPTL) and JMC Projects (JMC) hit their respective 52-week highs on the BSE in Monday’s intra-day trade after fixing January 11, as record date for the merger.

KPTL and JMC mutually fixed Wednesday, January 11, 2023 as the record date for the purpose of determining the shareholders of JMC to whom the equity shares of KPTL would be allotted, pursuant to the amalgamation scheme.

Shares of KPTL rallied 6 per cent to Rs 591.10, while JMC surged 7 per cent to Rs 146.30 on the BSE in intra-day trade today. At 10:06 AM;