Small-cap stock under ₹50 jumps after announcement of amalgamation move

VMS TMT edged higher after announcing a Scheme of Amalgamation to merge Aditya Ultra Steel Limited (AUSL) into itself, subject to statutory and regulatory approvals. Both companies manufacture premium TMT bars under the Kamdhenu brand ecosystem across Gujarat, with AUSL shareholders to receive 75 VMS TMT equity shares for every 100 shares held in AUSL. The stock traded between about ₹43.50 and ₹44 intraday on the BSE, though an Angel One technical analyst remains cautious citing weak price action and the stock trading below all key moving averages.