Eveready Industries share price jumps 10% on reports of Dabur promoters picking stake
BSE has sought clarification from Eveready Industries on the Burmans picking up an 8.8 percent stake in the company.
July 14, 2020 / 03:15 PM IST
Shares of Eveready Industries India surged 10 percent to get locked in upper circuit at Rs 88.90 on BSE on July 14 after the promoters of Dabur reportedly bought an 8.48 percent stake in the company through a bulk deal.
The Burman family confirmed the purchase to CNBC-TV18. The spokesperson said the investment in Eveready was purely in the family’s personal capacity and its stake in Eveready had risen to 20 percent now.
As per CNBC-TV18, the Burman family is the largest strategic investor in Eveready.
CNBC-TV18 reported that the company has said Guardian Advisors have acquired an additional 8.48 percent stake in it and Guardian Advisors now holds a 19.84 percent stake in the company.
Guardian Advisors is a portfolio management firm, managing investments for Burmans.