Godrej Cons hits 52-wk high on buyout talks

The stock touched a new 52-week high of Rs 235, up 13% from its previous close. It finally ended with a huge gain of 8.5% at Rs 225. Trade volumes increased almost 10 fold to 328,841 shares as compared to its two-week average trade of 34,113 shares.
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(Updated at 1037 hrs)

Godrej Consumers touched a 52-week high at Rs 219,on the back of its discussions with Sara Lee Corp to acquire 100 per cent stake in Godrej Sara Lee, a joint venture (JV) between Godrej group and the US-based firm.

The stock is now up 3.5% at RS 214, after opening at Rs 209. Around 38,810 shares have changed hands at the BSE counter so far as against its two-week average traded quantity of 34,113 shares.

Godrej Sara Lee, which manufactures insect repellents, is a 49:51 joint venture company between two wholly-owned subsidiaries of Godrej & Boyce and Sara Lee Corp.