Godfrey Phillips India turns positive after co exits loss-making retail division

Godfrey Phillips India

12/04/2024 08:04

** Shares of Godfrey Phillips India  GDFR.NS  turn positive,
up nearly 1% at 3,123.25 rupees
    ** Co says it has decided to exit business operations of its
retail business division 24Seven; says division's rev account
for 9.3% of co's total rev
    ** Shares of Marlboro India seller were down ~2.5% before
the announcement
    ** Retail business division had a negative net worth as on
31 March, 2023 on account of accumulated losses generated by it
- GDFR
    ** Friday's move after the announcement flipped the stock to
a monthly gain, up 1.1% so far in April 
    ** GDFR stock last posted monthly decline in Nov 2023

 (Reporting by Varun Vyas in Bengaluru)
 ((varunvyas.hebbalalu@thomsonreuters.com))