Eye On Future, RIL Builds On Growth
India’s largest private sector company’s ‘future focus’ keeps it at the top of the league.
India’s largest private sector company’s ‘future focus’ keeps it at the top of the league.
The company plans higher loan servicing following a reduction in 5G capital expenditure
Reliance Consumer Products has completed the acquisition of 51% stake in Lotus Chocolate for ₹74 crore.
It will ramp up product manufacturing through tie-ups, besides setting up a pan-India dealer and distributor network.
Reliance had acquired the 50-year-old brand Campa from Delhi-based Pure Drinks group for ₹22 crore in September 2022.
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.
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.
The existing promoters, Hajoori family, will continue to own the remaining stake in the 100-year-old soft drink maker.
Reliance Consumer Products Ltd, the fast-moving consumer goods arm of Reliance Industries, acquired a 51% stake in Lotus Chocolate Company for ₹74 crore.
The potential bidders include Reliance Retail Ventures, an Adani joint venture and WH Smith Travel.