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Under the proposal, a vertical demerger of Madura Fashion and Lifestyle business will be executed and newly incorporated company named as Aditya Birla Lifestyle Brands Ltd will be listed separately on completion of the demerger from ABFRL. ABFRL plans to raise Rs 2,500 crore equity capital within 12 months of demerger with promoter participation. ....
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.
The restructuring will help bring in sharper focus anchored on a differentiated strategy aligned with the individual business segment, said MD of ABFRL. ....
Stocks to watch today: Indian market is likely to trade in a range with sector- and stock-specific actions as the broader market momentum remains positive. Reliance Industries (RIL), NTPC, HCL Technologies, PVR INOX among stocks to watch on Monday (September 4). ....
HDFC Bank has declined from a high of Rs 1,758 levels to a low of Rs 1,558 levels. In last 9 months, it has found support in the range of Rs 1,530-1,580 on multiple occasions. ....