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Tilaknagar Inds in demand after long term deal with Pernod Ricard

Capital Market 

Tilaknagar Industries jumped 2.96% to Rs 36.50 after the company said it entered into an agreement with Pernod Ricard India to manufacture its products in India.

Tilaknagar Industries has entered and executed an agreement on 1 April 2021 with Pernod Ricard India (PRIPL) to manufacture products for PRIPL at the company's bottling facilities in Maharashtra.

The agreement is effective immediately and shall remain valid for the period of 10 years and shall be renewable thereafter by mutual consent. The co-operation could be extended to more states in the near future.

Shares of Tilaknagar Industries rallied for third trading session. The stock has added nearly 24% in three days from its previous closing low of Rs 29.45 posted on 31 March 2021.

Tilaknagar Industries is engaged in manufacturing Indian Made Foreign Liquor (IMFL). The company posted a consolidated loss of Rs 3.89 crore in Q3 FY21 as against a net loss of Rs 37.46 crore in Q3 FY20. Net sales rose 2.2% to Rs 167.62 crore in Q3 FY21 over Q3 FY20.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Tue, April 06 2021. 09:47 IST