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CCL Products jumps on getting nod to acquire stake in CCL Beverages

CCL Products (India) is currently trading at Rs. 205.60, up by 6.80 points or 3.42% from its previous closing of Rs. 198.80 on the BSE.

The scrip opened at Rs. 197.10 and has touched a high and low of Rs. 205.60 and Rs. 197.10 respectively. So far 12469 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 2 has touched a 52 week high of Rs. 306.40 on 13-Mar-2019 and a 52 week low of Rs. 190.65 on 29-Oct-2019.

Last one week high and low of the scrip stood at Rs. 206.15 and Rs. 197.10 respectively. The current market cap of the company is Rs. 2707.12 crore.

The promoters holding in the company stood at 45.28%, while Institutions and Non-Institutions held 31.07% and 23.66% respectively.

CCL Products (India) has received approval to acquire stake in CCL Beverages. The acquisition of CCL Beverages will help in the expansion of Business. The indicative time period for completion of acquisition is by December 31, 2019. CCL Beverages engaged in industry of Coffee, coffee related products and other food products. The Board of Directors of the Company at its meeting held on November 11, 2019 has approved the same.

CCL Products (India) is engaged in the manufacturing of instant coffee. The company operates through the Coffee and Coffee related products segment.

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