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Tata Consumer Products Ltd (TCPL) has emerged as the frontrunner to acquire Capital Foods Pvt Ltd, the maker of condiments, food products and ingredients under the Ching's Secret and Smith & Jones brands, ending weeks of protracted negotiations, said people with knowledge of the matter.
Short-to-medium-term traders with high-risk profiles can look to accumulate the stock for a possible retest of August highs and it could well top 5000 levels in the next 3-4 months, suggest experts.
These houses will be developed across four to six green housing projects within the countrys commercial capital Mumbai Metropolitan Region (MMR). Of the total investment into this joint platform, IFC's proposed investment will be up to Rs 330 crore with the remainder to be brought in by Sunteck Realty.
The stock rose from Rs 1275 as on 14 August 2023 to Rs 1431 recorded on 15 September 2023 which translates into an upside of over 15% in a month. The stock hit a fresh 52-week high of Rs 1466 on 11 September 2023.
The private banking stock hit a record high of Rs 1031 on 15 September 2023. It has rallied by nearly 5% in a week and more than 9% in a month.