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Company news: Sugal & Damani Share Brokers approves business transfer agreement

| Updated on March 18, 2020 Published on March 18, 2020

The board of directors of Sugal & Damani Share Brokers Ltd has approved a draft business transfer agreement with Motilal Oswal Financial Services Ltd for sale/transfer of the trading clients and depository participant. The decision is subject to approval of the shareholders by a special resolution and other requisite statutory approvals, it said. Post the deal, Sugal & Damani will become the authorised person of Motilal Oswal. While the shares of Sugal & Damani jumped 4.87 per cent at ₹5.60 on the BSE, those of Motilal Oswal plunged 6.63 per cent at ₹561.15 on the BSE.

Published on March 18, 2020
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