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What's happening in Peerless Abasan Finance (PAFL) stock? If one goes by the market talk, the loss-making NBFC is on the threshold of a dramatic transformation in business. On Tuesday, 1.71 lakh shares changed hands on expectation that a formal sanction to its scheme of amalgamation was imminent. Shristi Infrastructure Development Corp, a real estate company with land bank and on-going projects, is being merged with the NBFC. The swap ratio is 2 shares of PAFL for every 1 in Shristi.

It also has a joint venture with West Bengal Government, which has been executing number of large housing projects. Certain players are betting on the possibility of the company's EPS turning positive following the merger.

Jayanta Mallick

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