The Hindu Business Line : GKW up on revival plan hopes

According to dealers, the process of clearing the proposals placed by the promoters has finally begun raising market expectation that some months down the line a final package may emerge. BIFR sources confirmed that the draft package was formally circulated on Wednesday to the stakeholders, including the lenders.

The draft package is understood to have included revival of the sick company's auto-component business and steel unit and the liabilities would be cleared through sale of some assets. However, as the three-member BIFR bench requires appointments, according to market sources, the whole process may take six months.

Rises on takeover talk

THE counter of Vintage Card & Creation was among the top movers on the NSE on Wednesday as buzz over possible takeover resurfaced.

The stock of the relatively small greetings card company attracted volumes of 2.5 lakh shares and finished up 4.64 per cent on the NSE.

According to market sources, the unconfirmed news of the acquisition of the company by an FMCG major, which has its own greetings card business, was the supposed trigger of the stock.

Surge in volumes

THE Texmaco stock on Wednesday saw a surge in volumes and it closed up 10 per cent. On the NSE, the total traded quantity in the counter was 1.28 lakh shares. According to market players, a set of existing shareholders was seen to be active in the counter on Wednesday.

Jayanta Mallick

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