Havells rises on brand rights transfer

Wed Jan 9, 2013 2:34pm IST

Related Topics

Stocks

   

Reuters Market Eye - Shares in Havells India Ltd (HVEL.NS) gain 4.3 percent as analysts lauded the transfer of the brand name 'Havells' from one of its promoters to the company at no cost.

Havells shares on the BSE exchange (HVEL.BO) rose 4.15 percent after earlier hitting a record high of 683.90 rupees.

Havells India said on Monday its promoter QRG Enterprises would transfer its ownership of the trademark Havells, effective from April 2016.

Citigroup says the transfer would save Havells royalty payments of up to 400 million rupees a year that the company could use to pay out dividends.

Citi adds the move also is "a major positive" in terms of corporate governance as it benefits minority shareholders.

Havells shares gained 1.94 percent over the previous two sessions on the Sensex.

(Reporting by Manoj Dharra)

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

Public Health

REUTERS SHOWCASE

Cost Cutting

Cost Cutting

PM Narendra Modi boots officials out of the first class cabin  Full Article 

Airtel Profit Jumps

Airtel Profit Jumps

Bharti Q2 net profit more than doubles   Full Article 

Leisure Riding

Leisure Riding

Harley-Davidson woos affluent young Indians with bike culture  Full Article 

Maruti Earnings

Maruti Earnings

Maruti Suzuki net profit up 29 percent, beats estimates.  Full Article 

ICICI Results

ICICI Results

ICICI Bank Q2 profit up 15 percent, beats estimates.  Full Article 

Moody's on India

Moody's on India

Moody's welcomes India's policy steps, but wants to see more.  Full Article 

End Of QE

End Of QE

U.S. Fed ends bond buying, exhibits confidence in U.S. recovery.  Full Article 

Cook Comes Out

Cook Comes Out

Apple's Cook: "I'm proud to be gay"  Full Article 

Refining Margins

Refining Margins

BPCL aims to double refining margins with refinery expansion.  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device  Full Coverage