Marico surges on acquiring 53.98% stake in HW Wellness Solutions
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Marico is currently trading at Rs. 534.40, up by 3.00 points or 0.56% from its previous closing of Rs. 531.40 on the BSE.
The scrip opened at Rs. 540.60 and has touched a high and low of Rs. 540.60 and Rs. 527.35 respectively. So far 17660 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 606.00 on 18-Oct-2021 and a 52 week low of Rs. 455.80 on 27-Jan-2022.
Last one week high and low of the scrip stood at Rs. 540.60 and Rs. 503.05 respectively. The current market cap of the company is Rs. 69209.37 crore.
The promoters holding in the company stood at 59.49%, while Institutions and Non-Institutions held 33.96% and 6.56% respectively.
Marico has made a strategic investment and acquired stake in HW Wellness Solutions, a leading Digital first brand in the healthy breakfast and snack segment under the brand name ‘True Elements’. As part of the aforesaid transaction, the company has acquired 53.98% of the paid-up share capital of HW Wellness and it has accordingly become a subsidiary of the company.
True Elements is India's only food brand to be recognized as both 'Clean Label' & '100% Wholegrain'. It is anchored on providing ‘Food that DOES NOT LIE to you’ and promises 0% preservatives, 0% chemicals & 0% added sugar in its offerings.
Marico is one of India’s leading Consumer Products Group, in the global beauty and wellness space. Its products are sold in India and about 25 other countries in Asia and Africa.
