Dabur shares tank 5% on sluggish demand
Demand trends remained sluggish during the quarter, says Dabur India
Demand trends remained sluggish during the quarter, says Dabur India
Dabur clarifies that this lawsuit does not concern any Dabur brand or product, accentuating that the company is not a party to these suits.
Dabur group chairman Mohit Burman and director Gaurav Burman are among 32 people named in an FIR lodged by Mumbai Police.
Cases have been filed against Dabur India’s three foreign subsidiaries in the U.S. and Canada, alleging that the use of hair relaxer products have caused cancer and other health issues.
Dabur plans to review the intimation and evaluate the next steps in this matter, the Burman family-led FMCG company says in an exchange filing.
The revenue from India business grew by 8% to ₹2,347 crore, while international business reported a growth of 10.2%
While Budget 2023 promises more disposable income, private consumption is unlikely to increase in a hurry.
Post Q3 results, Sharekhan and Nirmal Bang have maintained 'buy' rating on Dabur India, while Prabhudas Lilladher has retained 'accumulate' rating on the stock.
Dabur India acquired the stake in Badshah Masala for ₹587.52 crore at a enterprise value of ₹1,152 crore.
Burman family, the promoter of Dabur India, looks to sell stake worth ₹800 crore in the personal care products company at a discount of 4% to the current market price.