Mukesh Ambani-owned company's shares surge 14% ahead of Q4 results
The shares of RIL-owned chocolate manufacturer, Lotus Chocolate rallied 14% to hit a 52-week high of Rs 470 on BSE in Tuesday's trade ahead of its Q4 results which are due later today.
The shares of RIL-owned chocolate manufacturer, rallied 14% to hit a 52-week high of Rs 470 on BSE in Tuesday's trade ahead of its Q4 results which are due later today.The shares of the Mukesh Ambani-held chocolate maker outperformed the benchmark indices today. The stock has been showing a double-digit percentage upward movement when Nifty and Sensex are nearly 0.60% down.
The company was acquired by Reliance Consumer Products (RCPL), the FMCG arm of Reliance Retail Ventures (RRVL) which completed the acquisition of a controlling stake last year in May. The acquisition of Lotus Chocolate is part of Reliance Retail’s strategy to build the fast-moving consumer goods (FMCG) business to compete with confectionery makers and .
Crisil, , , Lotus Chocolate Company, and are the five companies that will release their Q4 results today.
is one of India's select manufacturers of the finest chocolates, cocoa products and cocoa derivatives. Their products are supplied to chocolate makers and chocolate users across the world, from local bakeries to multinational companies. The company was incorporated in 1989 and commenced operations in 1992. It is a well-known reliable business partner for the supply of cocoa and chocolate products. ‘Chuckles’ is a flagship brand of the company which is very popular amongst the children.
The stock of the company has been performing well as it has given 128.5% returns to the investors in the last year and 2849% in the last three years.
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Source: Stocks-Markets-Economic Times
