Tilaknagar Industries surges on getting nod to invest Rs 1 crore in Incredible Spirits
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Tilaknagar Industries is currently trading at Rs. 94.55, up by 1.25 points or 1.34% from its previous closing of Rs. 93.30 on the BSE.
The scrip opened at Rs. 95.25 and has touched a high and low of Rs. 96.00 and Rs. 94.25 respectively. So far 11932 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 109.70 on 07-Oct-2022 and a 52 week low of Rs. 50.75 on 16-May-2022.
Last one week high and low of the scrip stood at Rs. 99.00 and Rs. 92.15 respectively. The current market cap of the company is Rs. 1624.26 crore.
The promoters holding in the company stood at 42.92%, while Institutions and Non-Institutions held 1.92% and 55.16% respectively.
Tilaknagar Industries has received an approval for investment not exceeding Rs 1 crore in Incredible Spirits (ISPL). ISPL is presently developing a Ready-to-Drink (RTD) Alcoholic Shots drink. The investment of Rs 1 crore will be made in the Equity shares of ISPL. Post the investment in the Equity shares, Tilaknagar Industries shall hold 19.50 % in ISPL. With this investment, Company plans to inorganically have a presence in a new vertical of convenience-based, disruptive alcobev products. The Finance Committee of the Company at its Meeting held on October 27, 2022, has inter-alia considered and approved the same.
Tilaknagar Industries is a leading manufacturer of liquor across the major categories - Whisky, Brandy, Rum, Vodka and Gin. The company has a leading market position in the southern and western parts of India.
