The liquor maker on Tuesday (15 September) informed that its promoter has fully repaid all the loans against pledged shares of the company.
All the shares held in promoters' account/companies are free from any encumbrance whatsoever, the company said.
Radico Khaitan's promoter, Sapphire Intrex, had pledged 15,02,460 equity shares, or 1.13% of the total equity capital of the company.
As on 30 June 2020, Sapphire Intrex held 33.98% stake while the total promoter holding in the company stood at 40.31%.
Shares of Radico Khaitan jumped 6.93% to Rs 443.45 on BSE. The stock surged 101.56% from its 52-week low of Rs 220 hit on 25 March 2020.
The liquor maker's consolidated net profit dropped 21% to Rs 44.87 crore on 33.7% decline in net sales to Rs 1,774.65 crore in Q1 June 2020 over Q1 June 2019.
Radico Khaitan produces and distributes branded liquor. The company operates molasses and grain distilleries and produces whiskey, rum, brandy, and vodka.
Powered by Capital Market - Live News
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.