The transaction is valued at an enterprise value (EV) of around $430 million (about Rs 2,900 crore). Earlier in the fiscal, the company also monetised its two data centres for Rs 3,800 crore.
A response from Mandhana to ET’s email query said there were no new developments apart from the disclosure made to exchanges on Tuesday. Khan’s foundation did not respond to an email questionnaire.
Gold prices have risen by 7% in the last couple of days and the rally may continue given the yellow metal’s status as a safe haven during uncertain times.
In last few years, the stock has enjoyed good investor interest due to company's tie-up with 'Being Human', which although smaller in size was most profitable.
It has been observed that investing in companies with improving financials and low price-earnings (P/E) ratios give good returns over medium to long term.
Indian stocks are among the most favoured in emerging markets, but actual earnings performance may belie that sunny outlook.
The 8-10 pc rise till date has dented the company's financials in the recent quarter, resulting into the stock correcting by 20 pc in the current year.
In the healthcare segment, Vicks is the leader however, there are several other players in this category which will restrict its growth to 12-13 per cent.
Companies that catered to the domestic economy bettered market expectations for Q4 in contrast to export-dependent constituents.
Results declared by most Nifty companies have been either much better or worse than expected, resulting in their stock prices making sharp moves on results day.
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