Company news: Skipper

Skipper has received no-objection letter from the BSE and the National Stock Exchange for its proposed scheme of arrangement. Earlier, its board approved a scheme whereby the polymer products division except Palashbari unit at Assam of Skipper would be demerged and merged into Skipper Pipes. However, the exchanges reserve their right to raise objections or withdraw the NOC at any stage if the information submitted to them are found to be incomplete, incorrect or misleading, the exchanges said. Shares of Skipper gained 0.89 per cent at ₹68.15 on the NSE, while they jumped 4.87 per cent at ₹69.95 on the BSE.