Bengaluru, June 30 -- The shares of the Penny stock specializing in the manufacturing of tungsten carbide products, hit a 20 percent upper circuit following the approval of the merger of United Wolfram Pvt. Ltd. with itself.

With a market capitalization of Rs. 47.70 crores on Monday, the shares of Rapicut Carbides Limited hit a 20 percent upper circuit, making a high of Rs. 88.80 per share compared to its previous closing price of Rs. 74.00 per share.

Rapicut Carbides Limited's Board approved the amalgamation of United Wolfram Private Limited (UWPL) with itself, subject to shareholder and regulatory approvals. The merger aims to create operational synergies by integrating UWPL's upstream tungsten processing capabilities with RCL's downs...