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United Sprits has received shareholder approval to merge its wholly owned subsidiary Tern Distillers Pvt Ltd with itself, the company informed the exchanges on Wednesday. Tern Distillers was declared a ‘sick industrial company’ under the Sick Industrial Companies Special Provisions Act, 1985. The stock of United Sprits closed 0.97 per cent higher at ₹2,699.70 on the NSE on Wednesday.
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