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<ul><li>Dabur, in the regulatory filing, "confirmed purchase of 8.48 per cent stake in <keyword id="498521" type="COMPANY" weightage="20" keywordseo="Eveready">Eveready</keyword> Industries" by the promoters. The transaction was carried out on July 14.</li><li>Post the transaction, shareholding of these five entities in Eveready Industries increased from 11.35 per cent to 19.84 per cent.</li><li>Last month, Eveready Industries had said coronavirus pandemic will have an impact on its profitability in the short-term and it is engaged in discussions with lenders to infuse additional fund to meet working capital gap and ensure no impact on its operations. </li></ul>FMCG major Dabur's promoters have hiked their stake in Eveready Industries by 8.48 per cent by acquiring 61.67 lakh shares in the open market, according to a BSE filing. Dabur's five promoters -- M B Finmart, <keyword id="8881424" type="COMPANY" weightage="20" keywordseo="puran-associates">Puran Associates</keyword>, V I C Enterprises, <keyword id="8881423" type="COMPANY" weightage="20" keywordseo="chowdry-associates">Chowdry Associates</keyword> and <keyword id="5206072" type="COMPANY" weightage="20" keywordseo="Gyan-Enterprises">Gyan Enterprises</keyword> -- through portfolio managing firm Guardian Advisors have hiked their stake in Eveready Industries. Dabur, in the regulatory filing, "confirmed purchase of 8.48 per cent stake in Eveready Industries" by the promoters. The transaction was carried out on July 14. Post the transaction, shareholding of these five entities in Eveready Industries increased from 11.35 per cent to 19.84 per cent. Last month, Eveready Industries had said coronavirus pandemic will have an impact on its profitability in the short-term and it is engaged in discussions with lenders to infuse additional fund to meet working capital gap and ensure no impact on its operations. Eveready Industries shares closed 9.96 per cent higher at Rs 88.90 apiece on the BSE. SEE ALSO: <a href="https://www.businessinsider.in/business/news/google-picks-up-a-7-7-stake-in-mukesh-ambani-jio-for-33737-crore/articleshow/76977043.cms">Google picks up a 7.7% stake for ₹33,737 crore in Reliance Jio</a> <a href="https://www.businessinsider.in/tech/news/jio-glass-akash-ambani-and-isha-ambani-announce-reliances-latest-product-which-offers-holographic-video-calls/articleshow/76977640.cms">Jio Glass – Akash Ambani and Isha Ambani announce Reliance’s latest product which offers holographic video calls</a> <a href="https://www.businessinsider.in/stock-market/news/wipro-share-price-16-increase-leads-to-surge-in-infosys-share-price-too/articleshow/76973619.cms">Wipro share price 16% increase leads to surge in Infosys share price too</a>

Dabur promoters hike stake in Eveready Industries by 8.48%

Kolkata, Battery and flashlight major <keyword id="166960" type="General" weightage="20" keywordseo="Eveready-industries" source="Orion">Eveready Industries</keyword> India Ltd (EIIL) on Tuesday reported a 73.5 per cent increase in consolidated net profit to Rs 25.44 crore for the second quarter of the current fiscal on easing input cost. The city-based company had posted a net profit of Rs 14.73 crore in the corresponding quarter last fiscal, the company said in a regulatory filing. Revenue from operation during the July-September quarter was lower by three per cent to Rs 364.9 crore as compared to Rs 375.7 crore in the year-ago period. Operating EBITDA (earnings before interest, taxes, depreciation, and amortisation) margin improved to 12.7 per cent from 11.4 per cent in the second quarter of the 2022-23 fiscal. Eveready Industries said the revenue performance was nearly flat owing to the distribution revamp, which is expected to normalise in the coming quarters. Battery-operated flashlights continued to degrow despite healthy growth in rechargeable category, it said. "Favourable trends in key raw materials and stability in exchange rate created suitable conditions for margin expansion," the company said in a statement. "Our emphasis to grow within our existing business mix saw us successfully execute a very complex route to market in our distribution structure," Eveready Industries Managing Director Suvamoy Saha said. The initial moderation in uptake in batteries is expected to resolve in the coming quarters as stocks get replenished via more efficient pathways, he said. In its revamp journey with the new management under the Dabur family, Eveready has also unveiled a new logo and a tagline, aiming at wooing the new generation of consumers.

Eveready Q2 FY'24 net profit jumps 73% on easing input cost

One can’t deny the volatility in stock markets. The uneven pace with which market graphs change, investors also keep shifting their interest areas. What has really caught foreign institutional investors’ (FII) fancy these days is small-cap stocks, which have gained much more than large-cap stocks in the last two years. According to The Economic Times’ report, written by Rajesh Naidu and Ashutosh R Shyam, foreign institutional investors (FIIs) have been pumping in money in the selected seven small-cap companies for the last two years. 
 These seven companies are: <keyword id="999951" type="UNKNOWN" weightage="20" keywordseo="Wonderla-Holidays">Wonderla Holidays</keyword>, <keyword id="205292" type="COMPANY" weightage="20" keywordseo="Eveready-Industries-India">Eveready Industries India</keyword>, <keyword id="105311" type="COMPANY" weightage="20" keywordseo="INOX-Leisure">Inox Leisure</keyword>, <keyword id="377728" type="COMPANY" weightage="20" keywordseo="Speciality-Restaurants">Speciality Restaurants</keyword>, <keyword id="2549193" type="UNKNOWN" weightage="20" keywordseo="Gulf-Oil-Lubricants-India">Gulf Oil Lubricants India</keyword>, <keyword id="141000" type="PERSON" weightage="20" keywordseo="Mangalam-Cement">Mangalam Cement</keyword> and Swaraj Engines. The stake of FIIs in these companies has been consistently increasing in the last three quarters. 
 
What makes these companies special? What are FIIs expecting from them in future? You can get answers to all of your questions over <a href="http://economictimes.indiatimes.com/articleshow/46127188.cms?utm_source=contentofinterest&amp;utm_medium=text&amp;utm_campaign=cppst">here</a>. 
Image: Thinkstock

Small-cap stocks: FIIs new found love

2018 proved to be a record year in India’s <keyword id="35603" type="PERSON" weightage="20" keywordseo="mergers">mergers</keyword> and acquisitions space. Led by <keyword id="80487" type="COMPANY" weightage="20" keywordseo="walmart">Walmart</keyword>’s $16 billion purchase of a majority stake in homegrown e-commerce behemoth <keyword id="6354742" type="COMPANY" weightage="20" keywordseo="Flipkart">Flipkart</keyword>, deal volumes reached an all-time high of <a href="https://www.businessinsider.in/2018-was-a-big-year-for-mergers-and-acquisitions-in-india-here-are-the-top-deals/articleshow/67127132.cms">$125 billion</a> for the year, twice the amount seen in 2017. However, it was only one of the many <keyword id="6391790" type="UNKNOWN" weightage="20" keywordseo="deals">deals</keyword> struck in the year. There are many reasons why dealmakers are active in India, according to <keyword id="145332" type="PERSON" weightage="20" keywordseo="Sonjoy-Chatterjee">Sonjoy Chatterjee</keyword>, the chairman of <keyword id="6361649" type="COMPANY" weightage="20" keywordseo="Goldman-Sachs">Goldman Sachs</keyword>’ Indian business. Size matters Firstly, India’s market dynamics call for consolidation. “Local companies are consolidating because they need capital and scale to run their businesses”, said Chatterjee. It’s getting harder and harder for smaller firms to compete against large multinationals, which is why inorganic growth is being pursued. In addition, higher competition is forcing companies to merge, especially in the telecom sector, as seen in the merger of Idea and Vodafone, in order to boost capital expenditure while keeping debt burdens manageable. “14 companies have been winnowed down to three, as one of India’s largest conglomerates, Reliance Industries, has set new market benchmarks for product and pricing,” Chatterjee remarked. Stressed out The problem of debt is not limited to telecom. Many companies have also been sent to the cleaners by the new Insolvency and Bankruptcy Code. “Recent changes to India’s bankruptcy law are forcing more companies that can’t repay their debts into the bankruptcy process”, Chatterjee said. This is resulting in an auctioning of assets and acquisitions of bankrupt companies, most notably in the <a href="https://www.businessinsider.in/indias-steel-industry-is-set-for-a-shakeup-after-arcelormittal-finally-emerges-as-the-winning-bidder-for-essar-steel/articleshow/66316447.cms">steel sector</a>. Old promoters have been ousted and that process is likely to continue as a huge pile of unpaid loans is still largely unresolved. Changing models As the smaller companies crumbled under the weight of competition, larger companies are looking to strengthen their portfolio by buying out peers. In December 2018, Hindustan Unilever, the Indian subsidiary of consumer goods giant Unilever, which is doubling down on its consumer health business through the acquisition of GlaxoSmithKline’s (GSK) key nutrition brands like Horlicks and Boost. Family-owned businesses shift strategy The new generation of leaders in family-owned businesses are changing tack and looking to enter completely new verticals. “With rising foreign investment flows leading to good valuations, several families are looking to exit their businesses and deploy capital in completely new areas” Chatterjee said. This can clearly be seen in the case of<a href="https://www.businessinsider.in/sale-one-of-indias-oldest-battery-brands-eveready-for-500-million/articleshow/67482195.cms"> Eveready</a>, a 114-year old company, the founding family of which is reportedly planning to sell their stake in. Even Ujjwal Munjal, the scion of the Hero Group which sells motorcycles, has commenced plans to <a href="https://www.businessinsider.in/ces-2019-munjal-grandson-from-the-hero-family-is-selling-ai-devices/articleshow/67469653.cms">sell AI devices</a> through an electronics subsidiary of the company. Sellers market Thirdly, Chatterjee feels that foreign investors have played a big part in the boom. Despite the <a href="https://www.livemint.com/Money/XvrfxeOgowt1zR38CXyDIK/FIIs-withdraw-nearly-Rs-1-trillion-from-Indian-capital-marke.html">volatility </a>in foreign portfolio investments, more and more institutional investors and private equity firms are shifting focus to India, especially its technology space which is coming into its own and has attracted the world’s largest tech firms, from Apple to Tencent. India’s growth trajectory significantly outweighs that of lagging China - India is expected to grow by 7.3% this year compared to China’s 6.2% - but also because of <a href="https://www.livemint.com/Politics/GwXhAdltCo1TCbRTAm5z0H/India-up-23-places-in-ease-of-doing-business-rankings.html">its improvement</a> in the World Bank’s Ease of Doing Business Index. These factors will likely persist through 2019 and keep deal street buzzing. Deal makers may stay wary of political uncertainties until the outcome of the election. However, given that most deals, especially the large ones, are driven by a long-term perspective, there is hope going forward too. SEE ALSO: <a href="https://www.businessinsider.in/2018-was-a-big-year-for-mergers-and-acquisitions-in-india-here-are-the-top-deals/articleshow/67127132.cms">2018 was a big year for mergers and acquisitions in India. Here are the top deals</a> <a href="https://www.businessinsider.in/indias-steel-industry-is-set-for-a-shakeup-after-arcelormittal-finally-emerges-as-the-winning-bidder-for-essar-steel/articleshow/66316447.cms">India’s steel industry is set for a shakeup after ArcelorMittal finally emerges as the winning bidder for Essar Steel</a>

You Searched For "Eveready industries" and got 5 results

Dabur promoters hike stake in Eveready Industries by 8.48%

PTI

Eveready Q2 FY'24 net profit jumps 73% on easing input cost

PTI

Small-cap stocks: FIIs new found love

BI India Bureau

Goldman Sachs’s India Chairman explains the country’s M&A boom

Dilsher Dhillon

Watching the Sensex can be misleading-- India's mid and small cap stocks have lost ₹2.4 trillion of investor wealth this year alone

Sriram Iyer

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