Stock market today, March 10 -- Shares of Reliance Infrastructure took a breather on Monday, March 10, after rising for three straight sessions. The stock of Anil Ambani group dropped nearly 2%, snapping its three-day winning run, following the announcement of amalgamation with its subsidiary.

Reliance Infrastructure, on March 8, announced that its board at the meeting held that day had approved the Scheme of Arrangement between the company and its wholly-owned subsidiary, Reliance Velocity Limited (RVL), and their respective shareholders, providing for amalgamation of RVL with Reliance Infra. The proposed merger is subject to approval from the National Company Law Tribunal (NCLT).

RVL provides support services to transport systems and ...