The dry-cell battery maker sold the land parcel for Rs 100 crore to Alwarpet Properties.
Shares of Eveready Industries spiked 4 percent intraday on October 11 after the country’s largest dry-cell battery maker completed the sale of its land parcel in Chennai for Rs 100 crore to Alwarpet Properties. The stock also touched upper circuit of Rs 44.15 per share.
“The focus will be on deleveraging our balance sheet. We will look at selling non-core assets (properties),” Eveready Industries India Managing Director Amritanshu Khaitan had said on the sidelines of the 84th Annual General Meeting.At 1027 hours, Eveready Industries was quoting at Rs 43.75, up Rs 1.70, or 4.04 percent. It has touched an intraday high of Rs 44.15Get access to India's fastest growing financial subscriptions service Moneycontrol Pro for as little as Rs 599 for first year. Use the code "GETPRO". Moneycontrol Pro offers you all the information you need for wealth creation including actionable investment ideas, independent research and insights & analysis For more information, check out the Moneycontrol website or mobile app.