Inox Leisure rises ahead of board meet to merge arm

The stock gained ahead of the board meet to merge its wholly-owned subsidiary Satyam Cineplexes Ltd with itself

Shares of Inox Leisure were up nearly 4% at Rs 179 ahead of the board meet tomorrow to merge its wholly-owned subsidiary with itself.

A meeting of the Board of Directors of the Company will be held on September 25, 2014, to consider and approve the proposed Scheme of Amalgamation of Satyam Cineplexes Limited ( a wholly-owned subsidiary of the Company) with the Company and to discuss matters incidental thereto, the company said in a release.

The stock opened at Rs 174 and touched a high of Rs 184 so far. Over 590,000 shares were traded on both the stock exchanges so far.