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Deal▲ Bullish for Waaree Energies
Waaree Energies approves Indosolar merger; public shareholders get one share for every 11
The brief
- Public shareholders will receive 1 Waaree Energies share for every 11 Indosolar shares
- Merger is expected to reduce duplicate expenses and administrative and compliance work
- The merger consolidates solar manufacturing operations, directly affecting Waaree Energies and Indosolar shareholders
| Stock | Traded | That day | vs Nifty | Volume | Since |
|---|---|---|---|---|---|
| WAAREEENER | Thu, 24 Sept | −1.2% | +0.4% | 0.7× | −0.7% · Nifty −1.3% |
| WAAREEINDO | Thu, 24 Sept | −5.0% | −3.3% | 0.3× | −9.7% · Nifty −1.3% |
✗ Classifier read this as positive; WAAREEINDO fell 3.3% against the Nifty on the day it traded.
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