Indo National Ltd sells 51% Kineco stake for Rs 220 crore to invest in aerospace, defense, and FMCG sectors.
Indo National Ltd, known for its Nippo brand batteries, has sold its 51% stake in Kineco Ltd for Rs 220 crore. The company intends to invest the proceeds in aerospace, defense, and fast-moving consumer goods sectors. This divestiture supports Indo National's strategy to enhance value for consumers and shareholders. Additionally, the company reported a 25.7% rise in net profit and a 5.9% increase in revenue for the quarter ending June 2024.
September 17, 2024
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