TTK Healthcare gains on talks to settle JV dispute

TTK Healthcare and Reckitt Benckiser have informed the apex court that they wish to settle dispute out-of-court

Shares of TTK Healthcare were up nearly 2.5% at Rs 382 after the TTK Group and Reckitt Benckiser on Friday informed the apex court that they are in talks for an out-of-court settlement to resolve the issue over control of their joint venture.

According to a report in a business daily, there were disputes last year over distribution rights of condoms made by the joint venture company, TTK-LIG Ltd. TTK Group and London International Group Plc both hold 49.87% in TTK-LIG Ltd and the rest is held by the company directors.

TTK-LIG Ltd manufactures Kohinoor and Durex brand of condoms.

A combined volume of around 16,000 shares were traded both the stock exchanges.