
Reliance Industries shares rise over 2%; here’s why
Reliance Consumer Products has completed the acquisition of 51% stake in Lotus Chocolate for ₹74 crore.
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.
Reliance Retail’s JioMart transitions into a full-scale e-marketplace, offering not just home products, and groceries, but brands across categories like jewellery, beauty, electronics.
Sunino group-owned Plastic Legno SPA has more than 25 years of experience in toy production; started India ops in 2009 to develop a production hub.