Marico share rises over 5% after firm divests stake in Revolutionary Fitness

© India Today Group
Marico share rises over 5% after firm divests stake in Revolutionary Fitness

Shares of Marico gained over 5% in Friday’s trade after the company said it has divested its entire stake in Revolutionary Fitness, a company providing a fitness and wellness solutions app.

Following the update, Marico share price touched an intraday high of Rs 361.55 on BSE, rising 5.47% against the last close of Rs 342.80. The stock price of Marico also touched an intraday low of Rs 344.25, after opening at Rs 344.25. Marico stock has gained 3.77% in the last 2 days of consecutive gains.

Marico shares trade higher than 5, 100 and 200-day moving averages but lower than 20 and 50-day moving averages. Market capitalisation of the firm stood at Rs 45,806 crore as of today’s session.

Marico stock has risen 3%% since the beginning of the year.

As per the filing, the company has now exited this venture by selling its entire equity investment in Revofit after evaluating the long term prospects of the aforesaid investment.

Share Market News Live: Sensex rises 400 points, Nifty at 10,910; TCS, Adani Ports, Hindalco top gainers

Gold price turns volatile, silver rates at Rs 59,300

Why Future Enterprises share fell 20% in five sessions