Shares of Eveready Industries (EIIL) India, on Friday, zoomed 20 per cent to hit an over two-year high of Rs 311.70 on the BSE in intra-day trade in an otherwise weak market. The stock of the dry cell battery maker was trading at its highest level since April 2018.
The trading volumes on the counter jumped over 10-fold with a combined around 5.2 million equity shares, representing 7.1 per cent of total equity of Eveready Industries, changing hands on the NSE and BSE. In comparison, the S&P BSE Sensex was down 3.1 per cent at 49,452 points at 02:21 pm.
The Burman family, the single-largest investor in EIIL with a 20 per cent stake, may become joint promoters of the battery maker along with the Khaitan family, the
Burmans of Dabur may join Khaitans as promoters of Eveready
Eveready Industries’ managing director Amritanshu Khaitan.Premium
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MUMBAI :
The Burman family, the single-largest investor in Eveready Industries Ltd with a 20% stake, may become joint promoters of the battery maker along with the Khaitan family, two people familiar with the talks between the two groups said.
The shareholding of the Khaitan family plunged to just 4.5% from 44.1% over the past two years as lenders sold shares of Eveready pledged with them after the promoter group defaulted on payments.
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