Eveready Inds is the star today. With volumes jumping up over 42 times, the stock price surged almost 18% to Rs.214, the biggest rise since 2016.
There is unconfirmed news that the promoter, B M Khaitan’s Williamson Magor is looking at selling the flagship company, Eveready Inds and is expected to fetch around Rs.4000 crore.
Times of India broke this news and stated in the report that Williamson Magor, which owns 45% in the publicly traded Eveready, is said to have mandated Kotak Mahindra Bank for the potential sale, which could attract the interest of foreign and domestic strategic acquirers as well as private equity buyout specialist.
Williamson Magor, the beneficiary of the stake sale was locked at the 20% UC at Rs.63.60 the moment it opened for trade.