Stocks

63 Moons Technologies rises after apex court ruling

Reuters Mumbai | Updated on May 02, 2019 Published on May 02, 2019

63 Moons Technologies Ltd's shares rose 10 per cent to a two-week high on Thursday.

The Supreme Court set aside the company's merger with National Spot Exchange Ltd on Tuesday.

“We find that no reasonable body of persons properly instructed in law could possibly arrive at the conclusion that the impugned order has been made in public interest,” the court said according to a statement.

The company's stand that a merger would serve no purpose to stakeholders has been vindicated, the MD said in the statement.

Shares, which were up for a fourth straight session, have risen 26.8 per cent YTD as of last close.

Published on May 02, 2019
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