Rossell India’s shares jumped over 10% on September 2, after the company officially separated its aerospace and defense businesses. This move increased investor confidence, pushing the stock price higher.
At 9:55 am, Rossell India’s stock was trading up by more than 9% at ₹619.45 on the NSE.
The company recently completed the demerger process by filing necessary documents with the Registrar of Companies, making the separation official as of August 30, 2024. This demerger was earlier approved by the National Company Law Tribunal (NCLT) in April.
Rossell India’s aerospace and defense business, known as Rossell Techsys, has now been separated and transferred to a new entity, Rossell Techsys Limited. This change also means that Rossell Techsys Inc. USA, which was part of Rossell Techsys, will no longer be a subsidiary of Rossell India.
These changes were made to follow the rules of the demerger process and relevant SEBI regulations. Rossell India’s stock has gained about 33% so far this year, outperforming the Nifty, which grew by 16%. Over the past 12 months, Rossell India’s stock rose by 26%, while the Nifty increased by 30%.
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