EID Parry sells stake in Alagawadi Bireshwar Sugars; stock surges

MUMBAI: Shares of EID Parry India surged as much as 6.13 per cent in intraday trade on Monday after the company divested stake in subsidiary company Alagawadi Bireshwar Sugars. The stock ended day in green, up 1.23 per cent or Rs 2.05 at Rs 169.

"EID Parry India Ltd has informed BSE that the Company divested its entire shareholding of 102,222 equity shares of Rs. 100 each in Alagawadi Bireshwar Sugars Private Limited, a wholly owned non-operating subsidiary for a consideration of Rs. 1.70 crore," the company said in a filing to stock exchanges.