AP CM Chandrababu Naidu-family owned Heritage Foods Ltd has been considering the proposal to acquire the dairy business of Reliance Retail Ltd (RRL) since an year. Finally, The deal has been closed and this agreement will come into effect from April 12th onwards. Heritage Foods clarified that the deal has been finalized after obtaining the approval from Competition Commission of India.
News about acquisition of Reliance Dairy Business was made official during the Market Hour. Heritage shares kept performing better since then. Currently, Heritage is trading at 1092.29 with an increase of 1.71% from where it closed Yesterday.
In the December quarter of 2016, Profits of Heritage Foods increased by 75.11% to gain Rs 19.91 crore.
Reliance Dairy has been operational since 2007. It's been procuring 2.25 lakh litres of milk on daily basis from 2,400 villages in 10 States.
News about acquisition of Reliance Dairy Business was made official during the Market Hour. Heritage shares kept performing better since then. Currently, Heritage is trading at 1092.29 with an increase of 1.71% from where it closed Yesterday.
In the December quarter of 2016, Profits of Heritage Foods increased by 75.11% to gain Rs 19.91 crore.
Reliance Dairy has been operational since 2007. It's been procuring 2.25 lakh litres of milk on daily basis from 2,400 villages in 10 States.