Shares in Havells India, parent company to Havells Sylvania, jumped 11%, to a record INR 1,182.90 (GBP 11.89) – the biggest one-day jump in four years, making Qimat Rai Gupta, CMD of Havells India, a dollar billionaire.
Qimat Rai Gupta, CMD of Havells India, has reportedly become a dollar billionaire, as shares in Havells India skyrocket.
In fact, shares in Havells India, parent company to Havells Sylvania, jumped 11%, to a record INR 1,182.90 rupee (GBP 11.89) – the biggest one-day jump in four years. Shares have doubled so far this year.
Gupta controls the company with his family with almost 62%. His stake has been valued at USD 1.5 billion (GBP 896 million).
Earlier this year, Gupta said that he planned to list its Sylvania Global brand separately on the London Stock Exchange in 12 to 18 months.