Surana Tele to demerges the Solar Biz, stock up

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Surana Tele to demerges the Solar Biz, stock up

Surana Telecom at its meeting held on November 25, 2009, inter alia, considered and approved a proposal to demerge the Solar Business of the Company into Surana Ventures Ltd. It touched an intraday high of Rs 42.20 and an intraday low of Rs 40.70. At 12:34 pm, the share was quoting at Rs 41, up Rs 0.50, or 1.23%.

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Surana Telecom touched an intraday high of Rs 42.20 and an intraday low of Rs 40.70. At 12:34 pm, the share was quoting at Rs 41, up Rs 0.50, or 1.23%.

The company has informed BSE that the Board of Directors of the Company at its meeting held on November 25, 2009, inter alia, considered and approved a proposal to demerge the Solar Business of the Company into Surana Ventures Ltd (Surana Ventures) in terms of a Scheme of Arrangement under Sections 391 to 394 of the Companies Act, 1956 (the "Scheme").
 
It was trading with volumes of 4,064 shares. Yesterday the share closed up 1.25% or Rs 0.50 at Rs 40.50.