Post GST, the estimated volume dip in the company’s cigarette sales for the September-December quarter was 6 per cent and 4 per cent, respectively.
“We are not able to understand the reason behind so much decrease in the price."
In the March quarter, GNFC reported a 39 per cent on-year jump in net profit.
Shares of Indian aluminium companies like Hindalco, Nalco and Vedanta mirrored the fall in aluminium price.
An increase in promoter holding is seen as a positive while a decrease is seen as negative.
The Street welcomed the move, with the stock climbing 19 per cent higher than the offer price of Rs 1,500.36 per share.
The cheese business contributed 21 per cent to the company’s revenue in FY17.
Raw material prices are down and discretionary spend is up.
The new offer exposes the failure of the board in discharging its duty of maximising shareholder value.
India imported around 1.5 million tonnes of aluminium in 2017, mainly from China.
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