Shares of Aditya Birla Fashion and Retail Limited rose by about 17 percent.

Shares of Aditya Birla Fashion and Retail Limited rose by about 17 percent.

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The company on Monday announced the demerger of its Madura Fashion and Lifestyle business from the company into a separate listed entity, a day after which its shares gained momentum. The company’s shares reached Rs 247.40 with a gain of 16.86 percent on BSE.

New Delhi. Shares of Aditya Birla Fashion and Retail Limited (ABFRL) rose by about 17 percent on Tuesday. The company on Monday announced the demerger of its Madura Fashion and Lifestyle business from the company into a separate listed entity, a day after which its shares gained momentum. The company’s shares reached Rs 247.40 with a gain of 16.86 percent on BSE.

On NSE it stood at Rs 247.50 with a jump of 16.93 percent. The Madura Fashion & Lifestyle (MFL) business comprises four fast fashion brands – Louis Philippe, Van Heusen, Allen Solly and Peter England as well as casual wear brands such as American Eagle and Forever 21. It also has a brand license for the innerwear business under sportswear brands Reebok and Van Heusen, which will be spun off into a separate listed entity.

Disclaimer: IndiaTheNews has not edited this news. This news has been published from PTI-language feed.



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