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VMS TMT board clears AUSL merger with company
VMS TMT has announced its board has approved the merger with TMT bars maker Aditya Ultra Steel Ltd (AUSL). This strategic amalgamation aims to create a robust entity by combining manufacturing, distribution, and financial strengths. Shareholders of AUSL will receive 75 VMS TMT shares for every 100 held. The combined company anticipates a significant boost in manufacturing capacity and operational efficiencies.
Small-cap stock under ₹50 jumps after announcement of amalgamation move
VMS TMT's stock rose following the announcement of an approved merger with Aditya Ultra Steel Limited, aimed at creating a larger and more efficient steel manufacturing entity, pending necessary approvals. Shareholders of AUSL will receive 75 VMS TMT shares for every 100 shares held.