The private lender has acquired 7.82 percent and 7.50 percent shares in these two companies, respectively
Promoter group Khaitan family's stake in Eveready Industries has slipped below 10 percent after IndusInd Bank acquired stake by invoking pledged shares.
The bank invoked pledge on 56,83,320 shares forming 7.82 percent of paid-up equity share capital of Eveready Industries.
Eveready is a part of the Williamson Magor Group of companies, which also includes tea producer McLeod Russel.
Eveready Industries India Ltd on July 1 reported over three-fold jump in its net profit at Rs 179.57 crore for FY2019-20, compared to Rs 47.26 crore in the last fiscal.
The Company is assessing the situation and will take all necessary measures as directed by the Central and/or the State Government from time to time, the company said in a filing to the exchanges.
The dry-cell battery maker sold the land parcel for Rs 100 crore to Alwarpet Properties.
A list of stocks which are in focus because of their price action. The technical outlook is limited to near and medium-term.
Top 10 companies which saw a double-digit rise in promoter pledge in Q1 include names like Jindal Steel, Kesoram Industries, Orient Electric, IndusInd Bank, Bharat Wire etc.
The invocation was due to the default/breach of terms of credit facilities sanctioned by the bank to McLeod Russel India, a group company of the BM Khaitan Group.
Price Waterhouse & Co Chartered Accountants LLP resigned citing reservations on certain inter-group transactions that promoter group made during FY19
Mumbai-based Singhi & Co has replaced the PwC as auditor of the company, Eveready said in the release
We observed formation of a bullish engulfing pattern in the last week and the stock price is now showing a follow-through up move in this week
It incurred Rs 23.21 crore in the voluntary retirement scheme for workmen at its facility in Chennai
The Eveready stock has corrected 44.96 percent in the past one year and risen 12.37 percent since January in anticipation of the deal
The Kolkata-based company's net sales stood at Rs 383.49 crore in the quarter under review as against Rs 398.25 crore in the corresponding period a year ago.
Kotak Securities is bullish on Eveready Industries has recommended buy rating on the stock with a target price of Rs 322 in its research report dated July 27, 2018.
Prakash Gaba of prakashgaba.com recommends buying Wockhardt with target at Rs 840 and stop loss at Rs 770 while he has a sell on Bank of India with target at Rs 96 and stop loss at Rs 108.
Motilal Oswal is bullish on Eveready Industries has recommended buy rating on the stock with a target price of Rs 458 in its research report dated February 06, 2018.
Introduction of confectionery was to utilise the full potential of distribution chain and the deep rural reach, said Amritanshu Khaitan, MD, Eveready India.
"Jollies will be launched in the first step to scale up our FMCG portfolio of products," EIIL managing director Amritanshu Khaitan said today.
The company's annual report for 2016-17 is a pointer to its aggressive plans of growing LED lighting operations by foraying into professional lighting B2B (business to business) with the launch of indoor and outdoor luminaires.
Motilal Oswal has maintained a buy on Eveready Industries with a target price of Rs 358, an upside of 15 percent and sees growth acceleration led by LED and appliances.
The company had posted standalone net profit of Rs 22.36 crore in the same quarter previous fiscal, Eveready Industries said in a BSE filing.
Nomura India Investment Fund Mother Fund sold 427,963 shares of Eveready Industries at Rs 303 per share on the BSE.