Property Sale Freshens Up Gillette India

Gillette appended 2.48% to Rs 936 during the afternoon trades accompanying its property sale at Gurgaon, India, for Rs 72.75 crore.

The scrip’s intraday high was Rs 950 and low Rs 930 during the day.

The scrip had 2,063 shares for trading on the BSE counter. In the last four month period, the scrip had an average daily volume of 1,468 shares.

On June 20, 2007, the Gillette India scrip added up 1.14% to Rs 913.35, from Rs 903.05 a month ago. It benefited 11.80% to Rs 913.35 on 20 June 2007 over the past three months.

On 28 December 2006 the stock had hit 52-week high of Rs 1,020 and a 52-week low of Rs 685 on 27 June 2006.

After market closure on Wednesday, 20 June 2007, Gillette India stated that it sold its immovable property at Global Business Park in Gurgaon for Rs 72.75 crore. The company got the final payment on 19 June 2007. The book value of the said immovable property was Rs 30.54 crore.

Gillette (India) makes consumer goods. The company works in three different sections: grooming, oral care, and portable power. Its product line comprises blades, razors and toiletries. The company's plants are situated in Rajasthan, Haryana and Karnataka.