Vadilal Ind soars 10% on board nod to buy ‘Vadilal’ brand from promoter co
- Best Investment Advisor in India
- Business
- Commodity Market
- Currency
- Equity Market
- FII based calls
- Foreign Markets
- Genuine stock tips provider
- Intraday trading tips
- Intraday trading tips & Strategies
- Investment adviser
- Investments
- IT Industry
- Most accurate stock tips provider
- News
- NSE F&O
- Operator based calls
- Politics
- Portfolio Management Services
- promotions
- SEBI Registered advisory company
- Stock Market
Shares of Vadilal Industries (VIL) jumped 10 per cent to touch an intra-day high of Rs 2739.55 a share on BSE in Friday’s early trade before the stock erased half of its gains.
At the time of writing this report, the stock was up 5 per cent.
The sharp move came after the company’s board on Thursday approved the purchase of the “Vadilal” brand from its promoter group entity Vadilal International.
The board also gave its nod for selling ‘certain non-core assets and business’ of the company to the promoters and a contract manufacturing agreement with the latter, as per an exchange filing.
The above transactions are subject to shareholders’ approval and the finalisation of terms, it said.
The considerations to be paid by VIL for the purchase of the brand name, and that to be received from the promoter for the sale of its non-core assets remain unknown.
These will be made public to the shareholders after the execution of the said agreements, the company said.
The “Vadilal” brand was reportedly licensed to Vadilal Industries and its distributor company Vadilal Enterprises by the promoter entity Vadilal International in 2012 via a 15-year agreement.
The stock of Vadilal Enterprises also rose over 4 per cent to its intra-day high of Rs 2,689 apiece before paring gains.
The eight-decade-old Vadilal Industries is owned by the Ahmedabad-based Gandhi family. The promoters together hold about 65 per cent stake in the company, of which 39 per cent is held through Vadilal International.
The promoters have been in the middle of a feud since 2015 when then-managing director Rajesh Gandhi’s (now Chairman) elder brother Virendra Gandhi had accused Rajesh and his cousin Devanshu Gandhi (now MD) of mismanagement. Read here
As per reports, back in 2017, one of the brothers was looking to exit the company.
The transfer of the brand name to the company raises speculations that this move may be a precursor to a stake sale by the promoters.
As of the September quarter (Q2FY23), among the promoters, Rajesh, Devanshu and Virendra Gandhi own 3.17 per cent, 4.81 per cent and 2.21 per cent stake, respectively, in the company.
#1 stock adviser in India Accurate stock tips provider Best Equity Portfolio Management Best Intraday calls provider Best Intraday Tips Best Intraday tips provider Best Investment adviser in India Best Portfolio Management services Best Portfolio Management services in India Best SEBI registered investment advisor Best SEBI registered stock advisory company Best Share Market intraday tips Best stock advisor websites Best stock advisory company in India Best stock tips provider in india Best tips provider in India Genuine Account Management services Genuine SEBI registered advisory company Genuine stock market tips provider India no 1 stock advisory company India’s top rated advisory company India’s top rated Stock tips provider Intraday calls in stock future Intraday calls in stock market Intraday Jackpot tips Intraday Sureshot tips Intraday Sureshot tips provider Intraday tips Intraday tips in F&O Intraday trading in share market Intraday trading techniques Intraday trading tips Intraday trading tips & Strategies Intraday trading tips in stock market Investment adviser Jackpot intraday tips Most accurate investment adviser in India Most successful stock advisors in india Operator based calls Operator based intraday stock tips Operator based intraday tips Operator based options tips Operator based sureshot calls Share market trading tips online Stock market Stock market news Stock Market tips Stock market trading tips provider Strategy for Wealth Management and Financial planning Top rated Portfolio Management services Top rated SEBI registered stock advisory firms
Archives
- March 2024
- February 2024
- January 2024
- December 2023
- November 2023
- October 2023
- September 2023
- August 2023
- July 2023
- June 2023
- March 2023
- February 2023
- December 2022
- November 2022
- October 2022
- September 2022
- August 2022
- July 2022
- June 2022
- May 2022
- September 2020
- August 2020
- July 2020
- June 2020
- May 2020
- April 2020
- March 2020
- February 2020
- January 2020
- December 2019
- November 2019
- October 2019
- September 2019
- August 2019
- July 2019
- June 2019
- May 2019
- April 2019
- March 2019
- February 2019
- January 2019
- December 2018
- November 2018
- October 2018
- September 2018
- August 2018
- July 2018
- June 2018
- May 2018
- April 2018
- March 2018
- February 2018
- January 2018
- December 2017
- November 2017
- October 2017
- September 2017
- August 2017
- July 2017
- June 2017
- May 2017
- April 2017
- March 2017
- February 2017
- January 2017
- December 2016
- November 2016
- October 2016
- September 2016
- August 2016
- July 2016
- June 2016
- May 2016
- April 2016
- March 2016
Categories
- Best Investment Advisor in India
- Business
- Commodity Market
- Currency
- Equity Market
- FII based calls
- Foreign Markets
- Genuine stock tips provider
- Intraday trading tips
- Intraday trading tips & Strategies
- Investment adviser
- Investments
- IT Industry
- Most accurate stock tips provider
- News
- NSE F&O
- Operator based calls
- Politics
- Portfolio Management Services
- promotions
- SEBI Registered advisory company
- Stock Market
- Uncategorized
Calender
M | T | W | T | F | S | S |
---|---|---|---|---|---|---|
1 | ||||||
2 | 3 | 4 | 5 | 6 | 7 | 8 |
9 | 10 | 11 | 12 | 13 | 14 | 15 |
16 | 17 | 18 | 19 | 20 | 21 | 22 |
23 | 24 | 25 | 26 | 27 | 28 | 29 |
30 | 31 |