ABFRL shares: Madura’s business may see multiple re-rating, said Kotak Institution Equities. But the brokerage said it would wait for strategic direction from the management.
India Business News: ABFRL shares rose by 10% to Rs 232.85 on BSE following the announcement of a potential vertical demerger of Madura Fashion & Lifestyle business. The d
Aditya Birla Fashion and Retail Ltd., incorporated in the year 2007, is a Large Cap company (having a market cap of Rs 17538.70 Crore) operating in Retail sector.
Shares of Aditya Birla Fashion and Retail (ABFRL) dipped as much as 6 per cent to Rs 153 on the BSE on Thursday. The company had, on Wednesday, announced a strategic partnership with India’s largest designer brand Sabyasachi by signing a definitive agreement for acquiring 51 per cent stake in Sabyasachi brand for a consideration of Rs 398 crore.
Sabyasachi is India’s largest and most influential luxury designer brand and engaged in categories such as apparel, accessories and jewellery and has a strong franchise in India, US, UK and the Middle East. The brand generated revenue worth Rs 274 crore as on FY20.