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Tilaknagar Industries is currently trading at Rs. 61.00, up by 3.50 points or 6.09% from its previous closing of Rs. 57.50 on the BSE
Tilaknagar Industries is currently trading at Rs. 61.00, up by 3.50 points or 6.09% from its previous closing of Rs. 57.50 on the BSE.
The scrip opened at Rs. 58.40 and has touched a high and low of Rs. 65.20 and Rs. 58.40 respectively. So far 435716 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 86.95 on 04-Jan-2013 and a 52 week low of Rs. 40.30 on 29-Aug-2012.
Last one week high and low of the scrip stood at Rs. 65.20 and Rs. 55.75 respectively. The current market cap of the company is Rs. 753.83 crore.
The promoters holding in the company stood at 56.26% while Institutions and Non-Institutions held 22.69% and 21.05% respectively.
In what could be the biggest consolidation move in Indian liquor industry, Liquor baron Kishore Chhabria's Allied Blenders & Distillers (ABD) is reportedly in talks with rival Tilaknagar Industries for a merger deal.
If the deal materializes, Chhabria would be the majority shareholder, while Tilaknagar chairman Amit Dahanukar will retain a sizable minority interest, in a combined entity that could be valued at $1 billion. Chhabria has 95% stake in ABD, which owns the top selling Indian whiskey brand Officer's Choice. While the Dahanukar family controls 56% stake in Tilaknagar Industries, makers of Mansion House brandy.
Tilaknagar Industries is one of the renowned Indian Made Foreign Liquor players including whisky, brandy, gin, rum and vodka with presence across India. The company manufactures markets and sells more than 40 brands across all price points.
With reference to the news item appearing in a leading financial daily titled "Chhabria eyes $1bn Tilaknagar deal" Tilaknagar Industries Ltd has Clarified to BSE that "The report is speculative and hypothetical in nature. After the entry of big MNC players, sector dynamics are changing. Given the nature of the Company business, the various players at several time points are exploring/discussing various types of business associations with the Company, which may or may not fructify and remain hypothetical until such time that they are concluded. Should there be any concrete development, the Company will share and make the appropriate announcements in line with the best practices disclosure guidelines."
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