Demergers & amalgamations

Every company here filed a step of a scheme of arrangement inside the window: a demerger or amalgamation approved by the board, an exchange observation letter, a court-convened shareholder or creditor meeting, the NCLT's sanction, or the record date that makes it real. The filing on each row shows which stage the scheme has reached.

Window30 days 90 days 180 daysSizeAll sizes Large cap Mid cap Small capProfitable only

ReactionRaw vs market vs sectorSortMost recent Best 1-week reaction Largest first19 companies · 103 filings in 30 daysExcelpaid plans

Company	Why it’s here — the filing	Reaction Next day / 1w / 1m	Price	Mcap	P/E	ROCE	Rev YoY
Ashok LeylandCommercial Vehicles	NCLT approves merger of Hinduja Leyland Finance into NDL Ventures5 Nov 2026Scheme filed with the NCLT×2	+1.0% reaction day	₹172	1.01 L Cr	29.1	7.5%	+11.6%
Gujarat EnergyLPG/CNG/PNG/LNG Supplier	0.8 million tonne yearly LNG sourcing approved; Q2 profit rises 22% to Rs 639 crore5 Nov 2026Demerger ratio announced	-3.5% reaction day	₹217	20,322 Cr	9.2vs 12.9	8.8%	+147.7%
GO Digit General InsGeneral Insurance	Shareholders approve Go Digit Infoworks amalgamation5 Nov 2026Scheme filed with the NCLT×3	-4.4% reaction day	₹249	23,004 Cr	161.6	—	—
Narayana HrudayalayaHospital	NCLT sanctions demerger of clinical services undertaking4 Nov 2026Scheme filed with the NCLT	-1.8% — —	₹1,901	38,839 Cr	45.0vs 44.3	5.4%	+73.0%
Tata SteelIron & Steel	Tata Steel amalgamation with Rujuvalika becomes effective3 Nov 2026Scheme filed with the NCLT×2	+1.6% — —	₹186	2.33 L Cr	21.1vs 13.0	7.6%	+14.3%
JSW SteelIron & Steel	Piombino Steel merger with JSW Steel becomes effective1 Nov 2026Scheme filed with the NCLT×2	+5.7% — —	₹1,357	4.14 L Cr	11.7vs 13.0	7.1%	+20.7%
TVS Motor Company2/3 Wheelers	TVS Motor buys Harita ARC and moves consumer finance business into it28 Oct 2026Demerger ratio announced×2	+4.7% +9.9% —	₹4,492	2.13 L Cr	55.8vs 36.5	10.5%	+38.6%
Waaree EnergiesOther Electrical Equipment	Waaree acquires data centre arm; Q2 profit Rs 754 crore27 Oct 2026Scheme filed with the NCLT	+1.9% — —	₹2,438	70,129 Cr	19.0vs 22.5	10.2%	+23.9%
Samvrdhna MTHRSN IntlAuto Components & Equipments	NCLT approves Motherson group composite reorganisation26 Oct 2026Scheme filed with the NCLT	+4.3% +8.6% —	₹159	1.67 L Cr	35.4vs 25.4	4.2%	+26.9%
Mankind PharmaPharmaceuticals	Board approves amalgamation of two wholly owned subsidiaries26 Oct 2026Scheme filed with the NCLT	+13.1% +14.8% —	₹2,540	1.05 L Cr	46.8vs 29.3	7.3%	+17.3%
Jindal StainlessIron & Steel	Board okays Q2 results, scheme to merge 4 wholly-owned subsidiaries22 Oct 2026Scheme filed with the NCLT	-2.8% -4.2% —	₹700	57,694 Cr	17.3vs 13.0	8.0%	+18.2%
Shyam Metalics and EngyIron & Steel Products	Tribunal approves merger of wholly owned electrocast unit into Shyam Sel and Power22 Oct 2026Scheme filed with the NCLT	-4.7% +1.2% —	₹1,300	36,191 Cr	26.4vs 15.8	8.2%	+33.7%
NBCCCivil Construction	NBCC: Corrigendum to MCA order on HSCC merger scheme21 Oct 2026Scheme filed with the NCLT	-5.0% +6.5% —	₹78	21,060 Cr	26.6vs 13.5	13.5%	+16.7%
RECFinancial Institution	REC gets NOC from NSE and BSE for merger with Power Finance Corp19 Oct 2026Scheme filed with the NCLT×2	-0.4% -5.5% —	₹297	78,114 Cr	5.2vs 15.1	—	-1.0%
Power Fin CorpFinancial Institution	PFC gets RBI nod for merger of REC into itself; shareholders approval next15 Oct 2026Scheme filed with the NCLT	-2.9% -7.6% —	₹329	1.09 L Cr	4.1vs 15.1	—	+0.5%
The Phoenix MillsResidential Commercial Projects	Phoenix Mills subsidiaries SGH Realty and Truevalue Infrabuild to merge15 Oct 2026Scheme filed with the NCLT	-1.7% -0.9% —	₹2,155	77,076 Cr	59.2vs 20.4	5.2%	+3.4%
JSW EnergyPower Generation	JSW Energy receives NCLT approval for GEPIL demerger scheme14 Oct 2026Scheme filed with the NCLT	+3.6% -3.2% —	₹525	96,224 Cr	40.6vs 21.3	1.8%	+23.0%
Emcure PharmaceuticalsPharmaceuticals	Board approves merger of two wholly owned units into Emcure Pharmaceuticals12 Oct 2026Scheme filed with the NCLT	+1.7% -3.0% —	₹2,210	41,926 Cr	38.3vs 29.3	13.3%	+24.3%
Lodha DevelopersResidential Commercial Projects	Lodha Developers merger scheme approved by shareholders and creditors at NCLT meeting9 Oct 2026Scheme filed with the NCLT×4	+2.7% -5.1% —	₹1,179	1.18 L Cr	27.1vs 20.4	10.3%	+17.6%

How this list is built

A company appears when an NSE/BSE filing inside the last 30 days carries one of these classifier signals (minimum importance: Medium): Scheme filed with the NCLT, Demerger ratio announced. Each row shows the latest qualifying filing; the reaction columns are the stock’s measured move from the close before that filing to the close of the next day (one session after the reaction day), 1 week and 1 month later. vs market subtracts the move of the company’s size index (Nifty 100, Nifty Midcap 150, Nifty Smallcap 250, or Nifty Microcap 250 for smaller and SME companies) over the same two closes; for filings before June 2026 that is the index membership as recorded later (tracked since Jun 2026). vs sector subtracts the median move of its industry peers. Both are differences in percentage points, not a measure of what the filing did. A benchmark that has not landed yet reads “pending”: the index close arrives a session after the stock’s.

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