Amber Enterprises gains 2% after accounting for trade; co. denies news of mulling demerger
After extending four straight sessions of gains, shares of Amber Enterprises rose for a fifth straight session and rose 2 percent. At the day’s high, the stock rose by Rs 7,395.25 per share on the BSE.
In the previous trading session, amid the flow of news that the small company is considering divestment of its Electronics division, the stock rose to an all-time high of Rs 7,498.95 per share.
Also, the press release said that after the demerger, the company may also consider an IPO for its Electronics business.
On Tuesday (December 24), the stock marked its fresh high of Rs 7,498.95 per share and ended 5 percent higher at Rs 7,253.1 per share on the BSE.
The Exchange on the news from leading business portals sought an explanation from the company on 24 December.
It responded that it periodically considers different opportunities for strategic growth. “We wish to inform the exchange that the Company has several subsidiaries, and is exploring different strategic opportunities from time to time for its growth and expansion in the normal course of business including but not limited to various fundraising activities.”
Till date, no such event triggers the disclosure obligations under Regulation 30 of the SEBI LODR Regulations. The company will make appropriate disclosures about material events in the future as required under the SEBI LODR Rules, it added.
Amber Enterprises Q2 results
For the quarter ended September, the company’s net profit was reported at Rs 19.25 crore against a net loss of Rs 6.95 crore in the previous quarter ended September 2023. against Rs 927.06 crore in the previous quarter ended September 2023.
