Godfrey Phillips India falls after report says retail business sale finalised

Godfrey Phillips India

04/09/2024 10:56

** Shares of Godfrey Phillips India  GDFR.NS  down 3.6% at
6400.1 rupees
    ** Marlboro cigarettes maker finalises agreement to sell
retail business, per CNBC-TV18
        ** Aims to complete sale by end of September, report
says
  
    ** Sale was opposed by a board member, report adds
    ** Retail business formed 4.3% of gross sales in FY24
    ** Despite day's fall, stock is up more than 3-fold so far
this year

 (Reporting by Nandan Mandayam in Bengaluru)
 ((Nandan.Mandayam@thomsonreuters.com; Mobile: +91 9591011727;))