LIC hikes stake in Gillette India
Life Insurance Corporation of India (LIC) bought 17,000 equity shares, or 0.052% stake, of Gillette India.
Post transaction, LIC's stake in Gillette India has increased to 5.025% stake from 4.973% earlier. The acquisition took place through open market on 18 August 2020. The disclosure was made after trading hours yesterday, 19 August 2020.
On a standalone basis, Gillette India net profit slumped 40.31% to Rs 52.38 crore on a 12.7% drop in net sales to Rs 406.57 crore in Q3 March 2020 over Q3 March 2019.
Shares of Gillette India rose 0.29% to Rs 5,109.15 on BSE. Gillette India is engaged in the manufacturing and sale of branded packaged fast-moving consumer goods in the grooming, portable power and oral care businesses. The firm's segments are: grooming, portable power and oral care.
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First Published: Aug 20 2020 | 10:27 AM IST