Amber Enterprises gains 2% after clarification to exchanges; co. denies demerger news

After continuing gains for four sessions in a row, shares of Amber Enterprises soared for the fifth straight session and rose up to 2 per cent. At the day's high, the stock climbed levels of Rs 7,395.25 per share on the BSE.

In the previous trading session, amid news flow that the smallcap company is considering demerger of its Electronics division, the stock galloped to its all-time high price of Rs 7,498.95 per share.

Also, the news report said that after the demerger is trough, the company may also mull the IPO of its Electronics business.

On Tuesday (December 24), the stock marked its fresh high of Rs 7,498.95 per share and ended over 5 per cent higher at Rs 7,253.1 per share on the BSE.

The Exchange with reference to the news appearing on leading business portals sought clarification from the company on December 24.

To which it replied that it from time to time considers different strategic growth opportunities. "We wish to apprise the exchange that the Company has several subsidiaries, and it evaluates various strategic opportunities from time to time for their growth and expansion in the ordinary course of business including but not limited to various fund-raising activities."

As on date, there is no such event that triggers the disclosure obligations under Regulation 30 of SEBI LODR Regulations. The Company will make appropriate disclosures regarding material events in the future as required under the SEBI LODR Regulations, it added.

Amber Enterprises Q2 results

For the quarter ended September, the net profit of the company was reported at Rs 19.25 crore as against net loss of Rs 6.95 crore during the previous quarter ended September 2023. Sales rose 81.73 per cent to Rs 1684.70 crore in the quarter ended September 2024 as against Rs 927.06 crore during the previous quarter ended September 2023.