S Kumars jumps on Reid & Taylor stake sale buzz
S Kumars rose to a monthly high of Rs 37.90 on buzz that the co was planning to sell 8% stake in its subsidiary Reid & Taylor to two large private equity firms.
By Rajesh Mascarenhas, ET Bureau | Updated:
Shares of textile major S Kumars Nationwide rose to a monthly high of Rs 37.90 on Friday on buzz that the company was planning to sell 8% stake in its subsidiary Reid & Taylor to two large private equity firms.
However, a top company source denied being in talks with the PE investors.
Reid & Taylor's proposed initial public offering has been pending for over a year despite approvals from the Securities and Exchange Board of India.
The stock closed at Rs 36.75 on Friday, 0.7% above its previous close.
However, a top company source denied being in talks with the PE investors.
Reid & Taylor's proposed initial public offering has been pending for over a year despite approvals from the Securities and Exchange Board of India.
The stock closed at Rs 36.75 on Friday, 0.7% above its previous close.
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