Shares of 63 Moons Technologies surged 10 percent intraday on April 30 after the supreme court set aside the merger with National Spot Exchange (NSEL).
According to media reports, the supreme court set aside the merger as it doesn't satisfy the criteria of "public interest". The court added that it has laid down what constitutes public interest.
The merger was proposed by the government in 2016 and was the first case when the centre passed the merger order of two private companies in "public interest".
NSEL is a subsidiary of 63 Moons Technologies.
At 1101 hrs, 63 Moons Technologies was quoting Rs 124.95, up 9.99 percent on the BSE.
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Source: Moneycontrol
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