Shares of Tilaknagar Industries Ltd. (TI) witnessed a steep decline of nearly 18% today following the Bombay High Court’s decision to dismiss the company’s plea in the long-standing Mansion House trademark dispute. The stock plummeted to ₹298.70, shedding ₹67.75 from its previous close of ₹366.45.
Dispute and High Court Ruling:
The dispute primarily involved the Mansion House and Savoy Club trademarks, with TI seeking to restrain Herman Jansen Beverages Nederland B.V. and Allied Blenders & Distillers Pvt. Ltd. (ABD) from using the Mansion House brand in India. The court dismissed TI’s injunction, thereby allowing ABD to introduce its Mansion House-branded products in West Bengal. However, upon TI’s request, a four-week stay has been granted for the company to file an appeal.
Impact and Company’s Position:
Despite the court’s ruling, TI has maintained that there will be no immediate financial impact. The company reiterated its continued use of the Mansion House brand and its commitment to protecting its business interests. As it prepares to file an appeal, TI remains confident in its legal strategy moving forward.
Stock Performance:
The day’s trading saw the stock dip to a low of ₹305.80 within the session, with heavy trading volumes further amplifying the impact on the share price. As of today, Tilaknagar Industries’ market cap stands at ₹59.31 billion.
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