Eveready Inds jumps on completing sale of Chennai land

Eveready Industries India rose 4.64% to Rs 44 after the company said it completed the sale of its Chennai property on 9 October 2019.

In December 2018, Eveready Industries India had executed an agreement with Alwarpet Properties for sale of the company's land at Chennai in Tamil Nadu, for Rs 100 crore.

The company said it completed the transaction on 9 October 2019. The announcement was made after market hours yesterday, 10 October 2019.

Meanwhile, the S&P BSE Sensex was up 443 points or 1.17% to 38,322.97.

On the BSE, 15,028 shares were traded in the counter so far compared with average daily volumes of 26,827 shares in the past two weeks. The stock hit an intraday high of Rs 44.15 and an intraday low of Rs 43.70 so far during the day.

The stock hit a 52-week high of Rs 234.20 on 16 January 2019. The stock hit a 52-week low of Rs 40.65 on 10 October 2019.

Eveready Industries India's consolidated net profit tumbled 62.3% to Rs 6.91 crore on 13.6% decline in net sales to Rs 331.24 crore in Q1 June 2019 compared with Q1 June 2018.

Eveready Industries India is engaged in the business of marketing of fast moving consumer goods (FMCG), such as dry cell batteries, rechargeable batteries, flashlights, packet tea and general lighting products. The firm also distributes a range of electrical products.

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