Devyani International shares surge 2.2% on merger move

Devyani International shares gained about 2.2% after the company approved the merger of Sky Gate Hospitality, Blackvelvet Hospitality and Say Chefs Eatery with the parent entity. The subsidiaries operate more than 100 outlets across over 40 cities. The merger aims to improve efficiency. However, no new shares will be issued, and the shareholding pattern will remain unchanged.