Monday , 29 November 2021
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Tata Consumer Products rises on inking pact to acquire 100% stake in Tata Smartfoodz

Tata Consumer Products rises on inking pact to acquire 100% stake in Tata Smartfoodz

Tata Consumer Products is currently trading at Rs. 847.60, up by 9.90 points or 1.18% from its previous closing of Rs. 837.70 on the BSE.

Tata Consumer Products

The scrip opened at Rs. 838.50 and has touched a high and low of Rs. 853.00 and Rs. 838.50 respectively. So far 102786 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 1 has touched a 52 week high of Rs. 889.00 on 07-Sep-2021 and a 52 week low of Rs. 502.15 on 12-Nov-2020.

Last one week high and low of the scrip stood at Rs. 845.75 and Rs. 816.90 respectively. The current market cap of the company is Rs. 78041.61 crore.

The promoters holding in the company stood at 34.71%, while Institutions and Non-Institutions held 39.24% and 26.04% respectively.

Tata Consumer Products has entered into a Share Purchase Agreement (SPA) with Tata Industries (TIL) and Tata Smartfoodz (the Target Company), to purchase 100% of the equity stake held by TIL in the Target Company.

Upon acquisition, the company will add Ready-to-Eat packaged food products under the brand ‘Tata Q’ in its portfolio. The said acquisition is in line with the company’s strategic intent of entering into new adjacent categories in the food space. The said transaction was approved by the Board at its meeting held on November 11, 2021.

Tata Consumer Products (formerly known as Tata Global Beverages) is a focused consumer products company uniting the food and beverage interests of the Tata Group under one umbrella.