Goodricke Group strengthens on entering into MoU with Mcleod Russel

18 Sep 2018 Evaluate

Goodricke Group is currently trading at Rs. 337.00, up by 14.80 points or 4.59% from its previous closing of Rs. 322.20 on the BSE.

The scrip opened at Rs. 332.90 and has touched a high and low of Rs. 350.00 and Rs. 332.90 respectively. So far 16910 shares were traded on the counter.

The BSE group 'X' stock of face value Rs. 10 has touched a 52 week high of Rs. 545.00 on 01-Dec-2017 and a 52 week low of Rs. 236.05 on 25-Sep-2017.

Last one week high and low of the scrip stood at Rs. 350.00 and Rs. 310.50 respectively. The current market cap of the company is Rs. 695.95 crore.

The promoters holding in the company stood at 74.00%, while Institutions and Non-Institutions held 0.01% and 25.99% respectively.

Goodricke Group has entered into a Memorandum of Understanding (MoU) with Mcleod Russel India. The company has decided to acquire the Estate & Bearer Plants and the Specified Assets of the Harchurah Tea Estate in Assam, subject to due diligence and necessary approvals. The consideration to be paid for the acquisition is Rs 31.64 crore.

With this acquisition, the assets of Harchurah Tea Estate would expand the current volume of Tea manufactured by the company in the State of Assam.

Goodricke Group grows, cultivates, manufactures, treats, blends, processes, buys, sells and deals in tea in various forms.

Goodricke Group Share Price

163.05 -4.45 (-2.66%)
28-Mar-2024 14:48 View Price Chart
Peers
Company Name CMP
Tata Consumer Produc 1102.00
CCL Products (India) 586.90
Mcleod Russel 24.00
Goodricke Group 163.05
Jay Shree Tea 94.45
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