Comments
Godfrey Phillips India Ltd stock on Monday moved up by over 5 per cent, as street is showing signs of waking up to certain positive developments, announced recently by the company.
The second largest cigarette maker of the country has relocated it manufacturing facility to its new plant at Rabale in Navi Mumbai from Andheri. It has also reached a Rs 35-crore VRS-related settlement with 236 unionised staff and workmen attached to its plant at Andheri.
“The Andheri plant’s five-acre land, located between the domestic and international airports of Mumbai, is now free for monetisation. Apart from this, the company’s upmarket retail chain, Twentyfour Seven, is poised for bigger rollout in different parts of the country,” said an FMCG analyst. The ‘round-the-clock’ convenience stores are planning to spread out of New Delhi.
On Monday, the stock finished five per cent higher at Rs 2,928.55 on the BSE.
jayanta.mallick@thehindu.co.in
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.