Jindal Stainless' revamp process kicks in

Jindal Stainless will remain in focus on Wednesday at the bourses, as the stock will turn ex-date on Thursday for the proposed scheme of arrangement. Jindal Stainless (Hisar), one of its subsidiaries, will allot one equity share of the company to the shareholders of Jindal Stainless in 1:1 ratio. The composite scheme also involves two other subsidiaries - Jindal United Steel and Jindal Coke - to enable it to develop on focussed business verticals.