Dabur India Promoters Hike Stake In Eveready Industries To Nearly 20%
Eveready battery arranged for a photograph in Mumbai (Photographer: Vishal Patel/BloombergQuint) 

Dabur India Promoters Hike Stake In Eveready Industries To Nearly 20%

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Promoters of Dabur India Ltd. have purchased 61.67 lakh shares of Eveready industries India Ltd., thereby increasing their stake in the battery maker by 8.48 percentage points.

Dabur's five promoters—MB Finmart, Puran Associates, VIC Enterprises, Chowdry Associates and Gyan Enterprises—through Guardian Advisors hiked their stake in Eveready Industries. Dabur, in a filing to the Bombay Stock Exchange, "confirmed purchase of 8.48% stake in Eveready Industries" by the promoters.

The transaction was carried out on July14.

Shareholding of these five entities in Eveready Industries now stands at 19.84%.

Eveready had last month said that coronavirus pandemic will have an impact on its profitability in the short-term and it is engaged in discussions with lenders to infuse additional fund to meet working capital gap and ensure no impact on its operations.

On Tuesday, Dabur India shares fell 1.09% to Rs 479.10 apiece on the BSE while those of Eveready rose 9.99% to Rs 88.90. the benchmark Sensex shed 1.80% to end the day at 36,033.06 points.

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