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Swastika Commodity merges with Swastika Investmart

By Asit Manohar
This merger will contribute to the revenue of Swastika Investmart Limited (Standalone) by 15% tentatively.

Commenting on the merger, Sunil Nyati, Managing Director, Swastika Investmart Ltd. said that “As of 31 March 2021, the gross revenue of Swastika Investmart Ltd. was Rs. 6158.54 Lakhs. This merger will contribute to the revenue of Swastika Investmart Limited (Standalone) by 15% tentatively. Both Companies’ business activities are similar in nature and complement each other, and to achieve inter-alia economies of scale and efficiency and to reduce multiplicity of costs, the merger of the Company is being undertaken."

Sunil Nyati went on to add that the merger of equity and commodity business will ease KYC requirements and would also directly benefit the clients in terms of maintaining single accounts.

"The main object of this is to combine all the processes of the commodity and equity so that it will become easier for all the clients of the company to manage and settle their accounts under one roof of the company," Sunil Nyati concluded.

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Dive Deeper:
Rainbow Children's Medicare share price retraces after testing ₹500 levels
Rainbow Children's Medicare share price: Hospital business is a highly competitive and normalization of profitability post-Covid makes it suitable only…
Rakesh Jhunjhunwala portfolio stock falls 30% from 52-week high
Rakesh Jhunjhunwala portfolio: Delta Corp share is a quality stock and current fall should be seen as a buying opportunity…
Rainbow Children's Medicare shares plunge after listing at discount
Rainbow Children's Medicare IPO was oversubscribed 12.43 times on the last day of the bidding
Rainbow Children's Medicare shares list at discount. Key stock levels to watch
The ₹1,581-crore IPO of Rainbow Children's Medicare was subscribed 12.43 times
One subscription that gives you access to news from hundreds of sites
As Nifty falls below 16,000, should you buy on dip? What experts think
Stock market today: Nifty 50 index has tumbled around 14.50 per cent from its highs of 18,604 levels
To bolster market share, Voltas needs a south India focus
The lack of a strong foothold in south India where summer starts early has weighed on Voltas’ market share
Get all your news in one place