Shares of Eveready Industries India jumped 20 percent to hit 52-week high of Rs 311.70 in intraday trade on BSE on February 26.
Shares of the company surged after media reports emerged that the Burman family may become joint promoters of the company along with the Khaitan family.
"The Burman family, the single-largest investor in Eveready Industries with a 20% stake, may become joint promoters of the battery maker along with the Khaitan family," reported Mint, quoting sources.
Read more: Burmans of Dabur may join Khaitans as promoters of Eveready
Owing to the default of payments, lenders of Eveready Industries have sold pledged shares in the last two years, dragging the shareholding of the Khaitan family to 4.5 percent from 44.1 percent.
Shares of Eveready Industries traded 19.54 percent higher at Rs 310.50 on BSE at 1300 hours.