MARKET EYE-India's Havells rises on brand rights transfer

Wed Jan 9, 2013 1:19pm IST

Related Topics

Stocks

   

* Shares in Havells India Ltd 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 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 ($7.26 million) 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 BSE index.    
($1 = 55.0700 Indian rupees)
FILED UNDER:

Economic Pulse

REUTERS SHOWCASE

Nifty Above 8,600

Nifty Above 8,600

Nifty hits record high above 8,600; state-run lenders gain  Full Article 

Bhopal Tragedy

Bhopal Tragedy

Bhopal's toxic legacy lives on, 30 years after industrial disaster  Full Article 

Essar Group

Essar Group

Exclusive - Essar's planned oil-for-steel deal tests Iran sanctions  Full Article 

Islamic Fund

Islamic Fund

India gets new Islamic equity fund but debt market still off-limits  Full Article 

Fiscal Deficit

Fiscal Deficit

April-October fiscal deficit nears 90 pct of full-year target  Full Article 

Oil Prices

Oil Prices

Oil hits new four-year low post OPEC as glut looms  Full Article 

Gold Imports

Gold Imports

Nov gold imports seen climbing on expectation of curbs   Full Article 

Reuters India Mobile

Reuters India Mobile

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