Profit

RNRL stock tanks 27% on swap ratio‎

PUBLISHED ON: July 5, 2010 | Duration: 2 min, 34 sec

   
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ADAG firm Reliance Natural Resources (RNRL) on Monday sank over 27 per cent, after the company announced the merger of RNRL with Reliance Power. Analysts said RNRL plunged as shareholders of the company judged the 1:4 share swap merger deal not sweet enough.
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