Bikaji Foods International zooms on acquiring 49% stake in Bhujialalji
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Bikaji Foods International is currently trading at Rs. 446.65, up by 20.30 points or 4.76% from its previous closing of Rs. 426.35 on the BSE.
The scrip opened at Rs. 429.70 and has touched a high and low of Rs. 451.00 and Rs. 426.90 respectively. So far 62184 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 1 has touched a 52 week high of Rs. 451.00 on 19-Jun-2023 and a 52 week low of Rs. 303.05 on 18-Nov-2022.
Last one week high and low of the scrip stood at Rs. 451.00 and Rs. 406.20 respectively. The current market cap of the company is Rs. 11053.29 crore.
The promoters holding in the company stood at 75.37%, while Institutions and Non-Institutions held 17.89% and 6.75% respectively.
Bikaji Foods International has acquired a stake of 49% in Equity Shares and 396 Compulsorily Convertible Debentures (CCDs) in Bhujialalji (BPL) on July 19, 2023. Subsequent to the acquisition, Bhujialalji has become an associate of the company.
The business of the Bhujialalji is in line with the main line of business of the company. The acquisition is for better expansion of business and to further strengthen the position of the company.
Bikaji Foods International is the largest manufacturer of Bikaneri bhujia, packaged rasgulla, soan papdi and gulab jamun.
