 "Tilaknagar Industries gains on Allied Blenders buyout offer report")
Tilaknagar Industries is trading higher by 3% at Rs 46.30 on media reports that Allied Blenders and Distillers, the country’s third-largest spirits company, is in talks to buyout the company.
“Allied Blenders and Distillers is planning to invest about Rs 1,200 crore in next two years to expand manufacturing and bottling. Allied Blenders and Distillers is also in talks to buy out Tilaknagar Industries. However, Tilaknagar Industries said it would only sell a minority stake,” according to a Business Standard report.
Tilaknagar Industries, the maker of Mansion House Brandy, is planning to sell stakes worth around Rs 825 crore to pare its debt, Hindustan Times report suggests.
The stock opened at Rs 46.05 and touched a high of Rs 47.15 on NSE. A combined 675,000 shares changed hands on the counter in early morning deals on NSE and BSE.
“Allied Blenders and Distillers is planning to invest about Rs 1,200 crore in next two years to expand manufacturing and bottling. Allied Blenders and Distillers is also in talks to buy out Tilaknagar Industries. However, Tilaknagar Industries said it would only sell a minority stake,” according to a Business Standard report.
Tilaknagar Industries, the maker of Mansion House Brandy, is planning to sell stakes worth around Rs 825 crore to pare its debt, Hindustan Times report suggests.
The stock opened at Rs 46.05 and touched a high of Rs 47.15 on NSE. A combined 675,000 shares changed hands on the counter in early morning deals on NSE and BSE.
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