The implied cost of the acquisition is to the extent of ₹472.5 crore of which ₹400 crore will be payable on payment terms at closing of the transaction.
The strategic investment is in line with ITC’s vision to be a long-term player in the fast-growing frozen, chilled and ready-to-cook foods segment in India.
RCL currently owns 2.44% and 0.53% of EIH and HLV, respectively, whereas ITC currently owns 13.69% and 7.58% of both companies.
Here are some of the stocks that may see significant price movement today: ITC, Kansai Nerolac, Coromandel International, etc.
Marroco stated without providing any details that BAT is also seeking to introduce its oral tobacco products in India.
This is a significant relief to Calcutta-based ITC, which operates a luxury five-star hotel in the heart of New Delhi.
Here are some of the stocks that may see significant price movement today: Tata Motors, ITC, Kalyan Jewellers, etc.
Additionally, customers would save money as a result of the updated modifications to the new tax regimes, which would benefit FMCG-related stocks like ITC.
Invest wise with Expert advice
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