Aditya Birla Fashion shares nosedive 67% in 1 hour: Here’s why it’s not a big worry… – Market News
Aditya Birla Fashion and Retail (ABFRL), a part of Aditya Birla Group shares fell sharply in the first hour of today’s trade, dropping 67%. The stock slipped from its 52-week high of Rs 364.40 to a new low of Rs 88.80.
This sudden and dramatic fall in the stock price of the company might have left many investors puzzled. Here is what you need to know before you assume the worst-
Aditya Birla Fashion Demerger: Record date
This sudden decline in the share price of ABFRL is not because of any bad news or poor performance by the company. This happened due to a technical adjustment related to the company’s ongoing demerger process.
In simple words, because ABFRL is undergoing a demerger, separating its lifestyle business into a…
