Marico Limited divests stake in Revofit

Marico Limited had earlier announced about the investments made by it in the equity share capital of Revolutionary Fitness Private Limited ("Revofit"), a company providing a fitness and wellness solutions app, to explore the hybrid physical-digital business model and offer an integrated fitness solutions so as to deliver a healthy lifestyle to its consumers.

The Company has now exited this venture by selling its entire equity investment in Revofit after evaluating the long term prospects of the aforesaid investment.

Shares of MARICO LTD. was last trading in BSE at Rs.342.8 as compared to the previous close of Rs. 339.8. The total number of shares traded during the day was 37567 in over 1366 trades.

The stock hit an intraday high of Rs. 345.1 and intraday low of 333.3. The net turnover during the day was Rs. 12704626.

Source : Equity Bulls

Keywords