ITC surges on acquiring stake in Sproutlife Foods
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ITC is currently trading at Rs. 429.10, up by 24.85 points or 6.15% from its previous closing of Rs. 404.25 on the BSE.
The scrip opened at Rs. 439.00 and has touched a high and low of Rs. 439.00 and Rs. 424.40 respectively. So far 438776371 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 499.60 on 24-Jul-2023 and a 52 week low of Rs. 369.70 on 17-Mar-2023.
Last one week high and low of the scrip stood at Rs. 439.00 and Rs. 399.30 respectively. The current market cap of the company is Rs. 504563.43 crore.
The while Institutions and Non-Institutions held 85.29% and 14.71% stake respectively in the company.
ITC has acquired 2,356 Compulsorily Convertible Preference Shares of Rs 10 each of Sproutlife Foods (Sproutlife), in terms of the Securities Subscription & Purchase Agreement and the Shareholders Agreement executed on April 19, 2023. The cost of acquisition is Rs 50 crore.
ITC has business a interests in cigarettes, hotels, paperboards and specialty papers, packaging, agribusiness, packaged foods and confectionery, information technology, branded apparel, personal care, stationery, safety matches and other FMCG products.
