Mudra Lifestyle may hog limelight on unit sale

Mudra Lifestyle will remain in focus next week, as its board of directors has approved the sale of its fabric business unit located at Tarapur for ₹46.49 crore. E-Land Fashion India, a 100 per cent subsidiary of E-Land Asia Holding, will acquire the related assets and liabilities, on a going concern basis, by way of slump sale. The company has resorted to this sale as it needs funds to improve its operating efficiency and to reduce its interest cost. On Friday, the stock crashed 6.8 per cent at ₹6.95.