Under the deal, Tata Consumer will acquire 75% stake in Capital Foods, and the balance 25% will be purchased within 3 years, the Tata Group company said in an exchange filing.
The FMCG stock hit a 52-week high of Rs 883 on 26 July, but failed to hold on to the momentum. It has been consolidating in a narrow range of 50 points since then. It has found resistance around the record high levels of Rs 883 while on the downside it found support above Rs 880 on the weekly charts since June 2023.