Vadilal Ind soars 10% on board nod to buy 'Vadilal' brand from promoter co

The company's board on Thursday approved the purchase of the "Vadilal" brand from its promoter group entity Vadilal International; the stock later pared half of its gains

Shares of Vadilal Industries (VIL) jumped 10 per cent to touch an intra-day high of Rs 2739.55 a share on BSE in Friday’s early trade before the stock erased half of its gains.

At the time of writing this report, the stock was up 5 per cent. 

The sharp move came after the company’s board on Thursday approved the purchase of the “Vadilal” brand from its promoter group entity Vadilal International.

The board also gave its nod for selling ‘certain non-core assets and business’ of the company to the promoters and a contract manufacturing agreement with the latter, as per an exchange filing.

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