Heritage Foods acquires Reliance Retail; up by 3 %
DSIJ Intelligence / 13 Apr 2017
Heritage Foods, one of the largest private sector dairy enterprises in Southern India, saw a stark rise in its stock price, after the dairy major announced on April 13, 2017 that the company acquired Reliance Retail's dairy business.
Heritage Foods, one of the largest private sector dairy enterprises in Southern India, saw a stark rise in its stock price, after the dairy major announced on April 13, 2017 that the company acquired Reliance Retail's dairy business. The share price of the dairy major added nearly 3 per cent to its stock, intraday, on April 13, 2017.
Heritage Foods, a leading retailer in food and grocery segment under the brand- Heritage Fresh, took over Reliance Retail's entire dairy business from April 12, 2017. However, Reliance Retail will continue its business in dairy products through its retail and wholesale channels.
At present, the company's stock is trading at Rs 1091.95, increasing by 1.69 per cent on BSE as on April 13, 2017 at 10:49 hrs, while the stock is trading at Rs 1090.05, increasing by 1.39 per cent at the same timing on NSE.
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