TTK Healthcare soars on report of settlement of Durex dispute

TTK group and Reckitt Benckiser Group have settled their dispute over control of their joint venture TTK-LIG

TTK Healthcare has soared 14% to Rs 450 on back of huge volumes on reports that TTK group and UK-based New Bridge Holdings, a step-down subsidiary of Reckitt Benckiser Group have settled their dispute over control of their joint venture TTK-LIG,

“Both parties have agreed New Bridge Holdings would sell its 49% share in TTK-LIG to the TTK group, while TTK-LIG would sell its 49% stake in SSL-TTK, the manufacturer of Scholl footwear and footcare brand, to Reckitt Benckiser Group,” the report suggests.

TTK-LIG manufactures contraceptive brands like Durex, Kohinoor and Fiestas.

The stock opened at Rs 404 and hit a high of Rs 454 on the National Stock Exchange. As many as a combined 434,764 shares have already changed hands on the counter so far against an average sub 100,000 shares that were traded daily in past two weeks.