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Eveready stock jumps 10% after HC allows sale of its Hyderabad property

The share touched its 52-week high Rs 234.20 and 52-week low Rs 36.20 on 16 January, 2019 and 16 October, 2019, respectively.

December 26, 2019 / 10:18 AM IST
 
 
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Eveready Industries India jumped 10 percent intraday on December 26 after the company was allowed to go ahead with the sale of its property at Hyderabad.

Delhi High Court (HC) has been pleased to vacate the said ad‐interim order of injunction to the extent that the company has been allowed to go ahead with the sale of the property at Hyderabad in terms of the agreement for sale dated August 30, 2019, company said in release.

Earlier, the HC had passed an ad‐interim ex‐parte order of injunction by which, the company had been restrained from selling, transferring, alienating, disposing, assigning, dealing, encumbering or creating third party rights on any of its assets, and carrying out any change in its capital structure, or any corporate or debt restructuring till the date of the next hearing in the matter filed against some of the promoters of the company, with regard to certain alleged dues.

At 09:52 hrs Eveready Industries India was quoting at Rs 56, up Rs 2.05, or 3.80 percent on the BSE.

The share touched its 52-week high Rs 234.20 and 52-week low Rs 36.20 on 16 January, 2019 and 16 October, 2019, respectively.

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Currently, it is trading 76.09 percent below its 52-week high and 54.7 percent above its 52-week low.
Moneycontrol News
first published: Dec 26, 2019 10:18 am

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