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Debt cleansing

Promoters of Jyothy Labs sell shares worth ₹2.68 billion to reduce debt

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Published 2 years ago on Nov 08, 2019 2 minutes Read

The manufacturer of well-known fabric whitener brand Ujala is not seeing bright days. As consumption slows down, Jyothy Labs’ other products such as Henko and Maxo are also seeing weaker sales. That coupled with rise in unorganised players in household insecticide is playing spoilsport for the company. Investor sentiment has been hit and that’s clearly visible in the stock price, which fell from Rs.218 in December 2018 to hit a 52-week low of Rs.138 in September 2019. But with the overall market rebounding post the corporate tax cut, the FMCG company has also gained 20%.

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