Sheela Foam shares jump 15% after Kurlon deal
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New Delhi: Shares of Sheela Foam Ltd, the maker of mattress brand Sleepwell, jumped over 15 per cent on Tuesday after the company said it will acquire a 94.66 per cent stake in Kurlon Enterprises Ltd for Rs 2,035 crore.
The stock zoomed 14.76 per cent to Rs 1,363.55 apiece on the BSE after a positive beginning. At the NSE, it jumped 15.40 per cent to Rs 1,369.95 apiece. The market valuation of the company also went higher by Rs 938.09 crore to Rs 12,529.86 crore in morning trade. Later, it trimmed most of the early gains and ended at Rs 1,236.05, up 4.04 per cent. At the NSE, it soared 15.40 per cent to Rs 1,369.95 during the day. The stock ended with a jump of 4.22 per cent at Rs 1,237.25. The market valuation of the company went higher by Rs 467.83 crore to Rs 12,059.60 crore.
