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 AB Nuvo to merge with Grasim; swap ratio at 100:30

The shareholders of AB Nuvo, for every 100 shares, will get 30 shares of the Grasim. Post the initial merger of the two companies, financial services business of the AB Nuvo will come into ABFSL, in which shareholders will get 210 shares.
The boards of AB Nuvo and Grasim have entered into a two-way restructuring process to merge AB Nuvo into Grasim. The shareholders of AB Nuvo, for every 100 shares will get 30 shares of Grasim.  The first step involves merging AB Nuvo with Grasim following which the financial services business of AB Nuvo will come into Aditya Birla Financial Services (ABFSL). ABFSL is expected to be listed on stock exchanges post the merger. Shareholders of AB Nuvo will get 210 shares in ABFSL for every 100 shares post the listing while the Grasim shareholders, holding 100 shares, will get 700 shares in the financial business.

Glenmark Q1 profit up 24%, US biz grows 24% but margin shrinks

Mumbai-based healthcare company Glenmark Pharma   started off financial year 2016-17 on a strong note with earnings beating analysts' expectations on Friday. Consolidated profit surged 24 percent year-on-year to Rs 226.8 crore on strong revenue and other income but slow operational performance limited growth. Consolidated revenue in Q1 grew by 18 percent to Rs 1,943 crore on yearly basis, led by good growth across all operating regions except Latin America and out-licensing income. "The US business continues to perform well and the recent approvals for the business will ensure the growth momentum will continue. Europe business performed well due to strong growth witnessed by the UK subsidiary," Glenn Saldanha, chairman & MD said.