Reliance to expand FMCG portfolio with new launches and acquisitions
It will ramp up product manufacturing through tie-ups, besides setting up a pan-India dealer and distributor network.
It will ramp up product manufacturing through tie-ups, besides setting up a pan-India dealer and distributor network.
The FMCG stock hit a 5% lower circuit in 17 out of the last 20 sessions, falling 55% during this period amid profit booking ahead of an open offer by Reliance group.
Despite the recent fall, the share price of the chocolate maker has zoomed 200% in the last two months, from ₹96.4 on December 23 to ₹288.6 intraday on Tuesday.
The share price of packaged foods company has zoomed 156% in the last sixteen sessions, from ₹96.4 on December 23 to ₹209.90 intraday on Monday.
Reliance Group firms will together acquire 33.38 lakh shares of Lotus Chocolate from the open market at a price of ₹115.50 per share.