Golden Tobacco Gains 12% on Demerger Plan

Source from:  economictimes.indiatimes.com MUMBAI 09/27/2008

Cigarette maker Golden Tobacco rose more than 12 per cent after its board approved spinning off its tobacco and realty businesses into two separate companies. The board has also approved issuing one share in each of the new companies, for every share held. At 10:35 am, the company's shares soared 12.45 per cent to Rs 143.60 after touching a high of Rs 145.60 in the first half hour of trade. The counter clocked a volume of 5,49,894 against two-week average of 81,388 shares. Enditem