Linde India Ltd, Mahindra & Mahindra Financial Services Ltd, Mahindra Logistics Ltd and Maharashtra Scooters Ltd are among the other gainers in the BSE's 'A' group today, 07 July 2020.

Prism Johnson Ltd spiked 10.00% to Rs 53.35 at 11:53 IST. The stock was the biggest gainer in the BSE's 'A' group. On the BSE, 2.23 lakh shares were traded on the counter so far as against the average daily volumes of 47961 shares in the past one month.

Linde India Ltd surged 7.94% to Rs 667.05. The stock was the second biggest gainer in 'A' group. On the BSE, 36224 shares were traded on the counter so far as against the average daily volumes of 9869 shares in the past one month.

Mahindra & Mahindra Financial Services Ltd soared 7.61% to Rs 196.65. The stock was the third biggest gainer in 'A' group. On the BSE, 12.92 lakh shares were traded on the counter so far as against the average daily volumes of 11.39 lakh shares in the past one month.

Mahindra Logistics Ltd added 7.43% to Rs 303.5. The stock was the fourth biggest gainer in 'A' group. On the BSE, 9714 shares were traded on the counter so far as against the average daily volumes of 4505 shares in the past one month.

Maharashtra Scooters Ltd exploded 7.16% to Rs 2808.9. The stock was the fifth biggest gainer in 'A' group. On the BSE, 1534 shares were traded on the counter so far as against the average daily volumes of 1548 shares in the past one month.

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Prism Johnson has acquired 35,00,000 equity shares constituting 35% of the shareholding of Sanskar Ceramics aggregating to Rs 12.95 Crores. With this acquisition, the shareholding of the Company has increased from 15% to 50%.

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Prism Johnson has agreed to acquire 35,00,000 equity shares at a price of Rs 37 each aggregating to Rs 12.95 crore, constituting 35% in thetotal paid-up equity share capital of Sanskar Ceramics. The Companypresently holds 15% of the paid-up equity share capital in Sanskar. Subsequent to the aforesaid investment, the shareholding of the Company in Sanskar would increase to 50%.

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The Board of Prism Johnson at its meeting held on 06 July 2020 has approved divestment of its entire holding of 51% of the paid-up equity share capital in Raheja QBE General Insurance Company (RQBE), a material subsidiary, to QORQL, a technology company with majority shareholding of Vijay Shekhar Sharma and remaining held by Paytm (owned by One97 Communications), for an aggregate consideration of Rs. 289.68 crores, subject to receipt of approval by the shareholders of the Company and all other requisite approvals (Divestment).

The consideration to be received by the Company for the Divestment is subject to certain adjustments which may be carried out between the date of execution of definitive agreement and closure of the sale, and other customary terms for a sale of such nature.

The divestment will result in the termination of the Company's joint-venture with Australia's QBE in the general insurance business in India. Post the divestment, RQBE will also cease to be a subsidiary of the Company.

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