Shares of Eureka Forbes surged 12 per cent to Rs 316.40 on the BSE in Tuesday’s intra-day trade amid heavy volumes. At 10:52 AM, the stock of the household appliances was trading 10 per cent higher at Rs 312 as compared to 1.4 per cent rise in the S&P BSE Sensex.
The trading volumes on the counter jumped over 20-fold with 1.04 million equity shares having changed hands, so far, against an average sub 50,000 shares traded on the BSE.
Meanwhile, Eureka Forbes said on June 20, 2022, that the board of directors of the company has accepted the resignation of Marzin R. Shroff as the Managing Director and Chief Executive Officer (Executive Director) of the company.
“The resignation will be effective on such date as mutually decided, and which is expected to be in or around August, 2022,” the company said. READ HERE
Marzin R. Shroff will move to a new role as Senior Advisor to both Advent International and Eureka Forbes.
Eureka Forbes is India’s leading health and hygiene leader with brands like Aquaguard & Forbes. A former part of the Shapoorji Pallonji Group, and now an Advent International portfolio company, Eureka Forbes’ product portfolio encompasses water purification, vacuum cleaning, air purification and home security solutions.
The equity shares of Eureka Forbes (formerly known as Forbes Enviro Solutions) were listed and admitted to dealings on the exchange on March 16, 2022. Eureka Forbes issued 15 fully paid up equity shares of Rs 10 each to the shareholders of Forbes & Company for every 1 fully paid up equity shares of Rs 10 each held by shareholders in Forbes & Company.
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.