Vadilal Industries denies looking for suitor

With reference to the news item appearing in a leading web portal & media that Gujarat based Vadilal Group is up for sale, Vadilal Industries Ltd has clarified that the Company strongly deny the news published by the web portal and in media.

Further the Company has informed that, Gujarat based Vadilal Group is not up for sale. There is no such plan of Gujarat based Vadilal Group to sale their brands either to ITC Foods or anybody. The Company is not looking for any suitor for its brands.

No Promoters of the Company are intending to sale the stakes to anybody.

The stock was trading at Rs.46, up by Rs.6.80 or 17.35%. The stock hit an intraday high of Rs.47 and low of Rs.41. The total traded quantity was 63604 compared to 2 week average of 9909.

Source : Equity Bulls

Keywords