Kalindee Rail Nirman (Engineers), a construction company to build infrastructure for rail transport,  plunged on Thursday after its board of directors approved a scheme of amalgamation, whereby the company shall be amalgamated into and with Texmaco Rail & Engineering.

Texmaco is a shareholder holding 49.07% of the issued, subscribed and paid-up share capital of the company.

Shares of the company are trading at Rs 122.20, down Rs 13.55, or 9.98% at the Bombay Stock Exchange (BSE) on Thursday at 2:05 p.m.

The scrip has touched an intra-day high of Rs 122.20 and low of Rs 122.20. The total volume of shares traded at the BSE is 44,267.

In the earlier session, the shares gained 9.96%, or Rs 12.3, at Rs 135.75. Currently, the stock is trading down 9.98% from its 52-week high of Rs 135.75 and above 144.16% over the 52-week low of Rs 50.05.