Mahindra Ugine share swap

General
1

can anyone lighten up

I hold Mahindra ugine shares for more than a year and would be entailed to a long term gain.
My question is If I hold shares till it get converted into MCie and sell after a week/month. Will that be considered as a short term gain or long term?

and I believe if record date is 24, Ugine share will trade till 24. Am i right?

2

As per my understanding, you can enjoy the benefit of LTCG tax exemption when you received the new shares from Mahindra CIE. Your holding period with MUSCO is still valid for LTCG benefit purpose.

Source: http://www.bemoneyaware.com/blog/swap-shares-capital-gain-tax/