Lotus Chocolate Share Price, Maya of Ambani’s name! As soon as the name comes among the buyers, the stock caught rocket speed, will you buy the stock? – Lotus chocolate shares hit upper circuit after reliance made open offer to buy 26 percent stake
Shares of Lotus Chocolate touched Rs 156.80 during trading on the BSE due to this news. Both the companies bought 33.38 lakh shares of Lotus Chocolate from the open market at a fixed price of Rs 115.50 per share. But why would investors sell shares at a loss? That is the question. The stock touched a 52-week high of Rs. 198.45 while the 52-week low is Rs.81.90. On November 29, the share price of Lotus Chocolate was at Rs 117 on the BSE index. The market capitalization of the company has crossed 200 crores.
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Reliance had recently announced to buy 51 percent stake in the company for Rs 74 crore. The purchase was made at a price of Rs. 113 per share. DAM Capital, which managed the offer, said in a notice on Friday that the two Reliance Group companies will buy 33.38 lakh shares of Lotus Chocolate from the open market at a fixed price of Rs 115.50 per share. The aggregate size of the offer, if fully accepted, would be Rs.38.56 crore. Reliance’s open offer will start from 21st February and will continue till 6th March.
Rocket shared with a news! Consider buying by reading the exact reason for the stock’s rise
Arch in the hands of Isha Ambani
RCPL is a subsidiary of Reliance Retail. Reliance Retail’s consolidated net profit rose 36 percent to Rs 2,305 crore in the September quarter. Reliance Consumer Products Limited recently launched its brand, Independence. Currently the brand has been launched in Ahmedabad, Gujarat and plans to roll it out across the country later. Isha Ambani is the daughter of Mukesh Ambani, the head of Reliance Retail.
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In the last week of December, Mukesh Ambani’s company Reliance Retail Ventures Limited announced a major deal with chocolate company-Lotus Chocolate. Since then, the shares of Lotus Chocolate have started buying strongly and now the stock is constantly hitting the upper circuit.
