Eveready Industries India has soared more than 8% at Rs 40.60 on reports that the company is looking to sell land to cut its debt.
“The company, which disposed of a 15-acre property at Navi Mumbai for Rs 115 crore in 2007, plans to sell about 60-70 acres in New Delhi, Hyderabad and Bangalore. The proceeds from land sale would be used initially to pay off debts, which currently stand at close to Rs 200 crore," reports suggest.
A combined 160,000 shares have changed hands on the counter till 0952 hours, as against an average around 50,000 shares traded daily in past two weeks.
