Vishal Retail up on Shriram Group and TPG deal

Shares of Vishal Retail turned positive after the company said it has sold its retail business to Chennai-based Shriram Group and wholesale business to PE firm TPG for Rs 70 crore.

The transaction on a 'slump sale' basis includes all the assets , rights, interests, inventories, cash flows, store leases and liabilities of the company.

At 12:13 p.m., shares were up 4.93 per cent at Rs 39.40 in a weak Mumbai market.

Yesterday, shares of Vishal Retail closed at Rs 37.55.