Nifty hovers around 8650; Zee Learn, Tree House rise 18-19%

Tree House Education & Accessories Update by Epic Research
Tree House Education & Accessories Update by Epic Research

The market is marginally higher with the Nifty hovering around 8650. The 50-share index is up 6.60 points at 8649.15 and the Sensex is up 51.46 points or 0.2 percent at 28116.07, and the Nifty. 
About 1349 shares have advanced, 806 shares declined, and 129 shares are unchanged.

Hero MotoCorp, Coal India, Tata Steel, Bajaj Auto, Axis Bank are top gainers while TCS, Infosys, GAIL, Asian Paints and L&T are losers in the Sensex.

Both Tree House Education and Zee Learn are up 18-19 percent. Tree House Education board has finally approved its revised merger deal with Zee Learn. The deal had hit a road block after Zee Learn had started ‘re-evaluating its merger with Tree House’. As per the new merger scheme, shareholders of Tree House will get shares in Zee Learn in ratio of 1:1. In a statement to the exchanges, Tree House said that the merger evaluation committee, formed in June by the companies, has approved of the new share swap ratio.
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