(T.E.T)
Shares of Kalpataru Power Transmission jumped 5 per cent in early trade Monday after the global power transmission and infrastructure player announced a merger with JMC Projects (India) Ltd which will create one of the largest engineering, procurement and construction (EPC) companies in the country. The merger process is expected to be completed in the fourth quarter of 2022-23 (Apr-Mar).
Kalpataru’s scrip zoomed to a high of Rs 408.70 as against the previous close of Rs 389.05 on the National Stock Exchange. Shares of JMC Projects, however,ere down 3.9 per cent at Rs 92.65 on the NSE.
