Nahar Exports zooms on demerger plan

DALAL STREET SPIKES

Shares of Nahar Exports jumped 14.14 per cent to end at Rs 78.70 on the BSE on Friday after the company announced a demerger proposal as well as a stock-split.

The stock has been sliding from its intra-year high of Rs 92 since September last year. It had witnessed another spike in February.

Nahar Exports informed the bourse that a meeting of its board is slated for March 30, 2006, which will consider and approve the proposed scheme of demerger and transfer of textile business of the company to Nahar Spinning Mills under Sections 391, 394 and other applicable provisions of the Companies Act, 1956.

The board will also consider a stock-split proposal by reorganising the company's capital.