India, Oct. 12 -- Many Indian engineering groups have grown through a web of subsidiaries, each set up for a new line of business. That works while the new ventures are small, but as they scale, the group often finds it easier to run and fund them from a single company. Mergers of this kind are now common among mid-sized manufacturers that have moved into defence and renewables.

Shares of Goodluck India Ltd. were closed at Rs. 566.35, up 13.21% from previous close of Rs. 500.25. The stock opened at Rs. 500.25 and reached an intraday high of Rs. 585.00 and low of Rs. 497.10. The company currently has a market capitalization of Rs. 5,694 crores.

What's the News Goodluck India has proposed consolidating its group entities, with the defence...