Jubilant Industries surges 10%, hits fresh 52-week high on transfer of retail biz to Aditya Birla Retail

NEW DELHI: Jubilant Industries Ltd ended the day at Rs 163.90; up 10.00%, on the BSE, as it informed BSE that its subsidiary Jubilant Agri and Consumer Products Limited has agreed to transfer its retail hypermarket business undertaking consisting inter alia of four hypermarket stores in Bengaluru to Aditya Birla Retail Limited.

Jubilant Industries was locked in upper circuit at Rs 163.90.

The company will also transfer certain specified assets and liabilities including dedicated employees, contracts, licenses, permits, consents and approvals relating to this undertaking, as a "going concern" to Aditya Birla Retail Limited by way of a 'slump sale'.