GPI, in a clarification on Tuesday, said that its promoter KK Modi-owned Modi Enterprises has no plan to sell its stake in the cigarette maker.
Godfrey Phillips clarified that it is neither engaged nor privy to any such discussions on "rumoured potential transaction by its promoters"
The company had reported a net profit of Rs 72.33 crore in the July-September quarter a year ago, Godfrey Phillips said in a BSE filing
Stock calls by Jay Anand Thakkar, CMT -Assistant Vice President - Equity Research, Anand Rathi Shares and Stock Brokers
The company reported consolidated net profit of Rs 119 crore in Q1FY20, against Rs 57 crore registered in the year- ago quarter on strong volume growth.
The bench directed the authorities to file their affidavits, and posted the petition for further hearing on July 30
The stock surpassed its previous high of Rs 1,000 recorded on January 15, 2019 in intra-day deal