Announced Fri, 10 Jul · 18:36 IST
Board approves stock split, name change to Novalum Materials, 51% Teneron acquisition
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Price
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Price reaction · full curve 14 horizons · vs prior close
+4.0%1-day move
₹267.15
prior close
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base price
After-mkt
timing
5m10m15m30m1D2D3D4D5D7D15D1M2M3M
————+4.0+4.0+8.2+10.3+12.5+14.8————
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AI summary
Board approved multiple major items: stock split (1 share of Rs 10 to 5 shares of Rs 2), name change to Novalum Materials Limited, 51% acquisition in Teneron Limited (aluminium recycling, revenue Rs 7,080 crore FY25), borrowing limit raised to Rs 100 crore, authorized capital up to Rs 40 crore, material RPT with Teneron up to Rs 250 crore, and registered office shift within Delhi. AGM set for 6 August 2026.
Likely market impact
Major restructuring: stock split, name change, and aluminium entry via Teneron need shareholder nod at 6 August AGM.