Sharemasterindia.com: Tilaknagar Industries shares surged and hit upper
circuit of 20 per cent on reports that Allied Blenders and Distillers is
planning to acquire controlling stake in Tilaknagar Industries.
Tilaknagar Industries is in final rounds of talks with Allied Blenders and Distillers to sell its controlling stake. Kishore Chhabria and CMD of Tilaknagar Industries are slated to meet in London today.
Tilaknagar Promoters and shareholders are likely to ask for Rs 50-60 a share and deal will trigger an open offer from Kishore Chhabria to other shareholders of the company.
Reacting to this development, Tilaknagar Industries shares came in high demand and the stock was locked in its upper circuit of 20 per cent at Rs 21.20
Read More: Indian Stock Market Tips
Tilaknagar Industries is in final rounds of talks with Allied Blenders and Distillers to sell its controlling stake. Kishore Chhabria and CMD of Tilaknagar Industries are slated to meet in London today.
Tilaknagar Promoters and shareholders are likely to ask for Rs 50-60 a share and deal will trigger an open offer from Kishore Chhabria to other shareholders of the company.
Reacting to this development, Tilaknagar Industries shares came in high demand and the stock was locked in its upper circuit of 20 per cent at Rs 21.20
Read More: Indian Stock Market Tips
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