Saregama hits 5% upper circuit on board nod for distribution biz demerger

Shares of Saregama India were locked at the 5 per cent upper circuit at Rs 4,828.45 on the BSE in Thursday’s intra-day trade after the board approved demerger of entire distribution business of the company. The demerger relates to sale of all its physical products including Carvaan on digital marketplaces along with identified non-core assets (i.e. investment in publication business). The stock had hit a record high of Rs 5,487 on December 28, 2021.

Online marketplace has considerable potential, and skills acquired by the demerged company in the recent past can be utilized to manage end-to-end distribution activity, and