Khadim India up on plans to demerge distribution business

Khadim India

27/09/2023 09:37

** Shares of Khadim India Ltd  KHAD.NS  rose as much as 8.9%
to 289.95 rupees, on track to snap two days of losses
    ** The footwear maker on Friday will consider the scheme of
arrangement in demerging its distribution business into unit KSR
footwear
    ** KHAD had earlier said the new entity formed after
demerger would be a listed company where shareholders of co
would be allotted shares in proportion to their shares held in
Khadim 
    ** Around 120,000 shares traded by 1:55 p.m. IST, 0.6x their
30-day avg - LSEG data
    ** Stock last up ~4%, taking YTD gains at ~16% 


 (Reporting by Nishit Navin in Bengaluru)
 ((nishit.navin@thomsonreuters.com;))