Pidilite Ventures Sells Pepperfry Stake to TCC Concept; Shares Trade Flat
Shares of Pidilite Industries Ltd are trading flat after touching a day’s high of Rs 1,513.60 on 7th January, as the company said its wholly-owned subsidiary, Pidilite Ventures (PVPL), has transferred its entire shareholding in Pepperfry Limited to TCC Concept Ltd through a 100% share swap transaction. The transfer gave... The post Pidilite Ventures Sells Pepperfry Stake to TCC Concept; Shares Trade Flat appeared first on Equitypandit.
Shares of Pidilite Industries Ltd are trading flat after touching a day’s high of Rs 1,513.60 on 7th January, as the company said its wholly-owned subsidiary, Pidilite Ventures (PVPL), has transferred its entire shareholding in Pepperfry Limited to TCC Concept Ltd through a 100% share swap transaction.
The transfer gave PVPL a 2.20% equity stake in TCC Concept Ltd. The company said the deal is not a related-party transaction, and PVPL’s promoter group has no interest in TCC Concept.
For the July–September quarter, Pidilite Industries Ltd reported an 8.2% rise in consolidated net profit to Rs 584.6 crore, up from Rs 540.3 crore a year earlier.
Revenue grew 9.9% to Rs 3,554 crore, slightly above estimates of Rs 3,525 crore. EBITDA rose 10.5% to Rs 850 crore, just below the expected Rs 853 crore.
At 12:37 PM, shares of Pidilite Industries were trading 0.28% higher at Rs 1,509.20 on NSE.
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The post Pidilite Ventures Sells Pepperfry Stake to TCC Concept; Shares Trade Flat appeared first on Equitypandit.
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