Orient Green Power jumps over 9% on merger talks

Orient Green Power jumps over 9% on merger talks

19/01/2017 11:57

Shares of Orient Green Power Company rallied over 9 per cent on the Bombay Stock Exchange after media report suggested that Infrastructure Leasing and Financial Services (IL&FS) is in talks to merge its wind energy assets with the company.

The Exchange has sought clarification from Orient Green Power Company Ltd on January 19, 2017 with reference to news appeared in Business Standard dated January 19, 2017 quoting “IL&FS, Orient Green Plan to Merge Wind Energy Assets”

Driven by merger talks, shares of company gained as much as 9.34 per cent to hit intra-day high of Rs 11.00 apiece on Bombay Stock Exchange.

In a similar fashion, stocks of company advanced 5.97 per cent to Rs 10.65 apiece on the National Stock Exchange.

Meanwhile, the broader benchmark BSE Sensex was trading at 27,329.75, up 72.11 points, or 0.26 per cent, at 11:45 hours.

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