Financial Daily
from THE HINDU group of publications
Thursday, February 22, 2001
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Financial Daily from THE HINDU group of publications Thursday, February 22, 2001 |
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Gillette India: No clean shave
GILLETTE India's decision to defer the announcement of its financial performance for the fourth quarter of 2000 may act as a dampener on the valuation for the stock in the near term.
The company has stated that the announcement has been deferred as the board of directors sought clarifications on the merger of two unlisted group companies with Gillette India. The company was expected to give effect to the merger of two wholly-owned su
bsidiaries of its parent -- Wilkinson Sword India and Duracell India -- with itself in this quarter. The apprehensions that carry-forward losses from the unlisted companies would impact Gillette India's financials for the fourth quarter have already spar
ked off a steady markdown in the valuation for Gillette India over the past six months. With the deferment of the earnings announcement, concerns surrounding the consolidated financial picture may weigh on the stock. BL Research Bureau
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