Stock of the chocolate-making company gave a return of more than 192% as soon as Mukesh Ambani touched
Mukesh Ambani has announced to invest in a chocolate-making company, after which this company has given a return of more than 192% to its investors in just one month.
Reliance Group's Reliance Consumer Products Limited (RCPL) and Reliance Retail Ventures Limited (RRVL) recently announced the purchase of an additional 26% stake in chocolate maker Lotus Chocolate, a subsidiary of Mukesh Ambani's Reliance Industries. Ltd. (RIL) is a subsidiary company. Since then, a tremendous boom is being seen in the stock of Lotus Chocolate. On the last two trading days, 23rd and 24th January, the stock is continuously hitting the upper circuit of 5%. Although today the stock market is closed due to Republic Day.
In the Bombay Stock Exchange (BSE), the share price of Lotus Chocolates has increased from the level of 96 to the level of Rs.295 in the last month. This boom is being seen after the announcement of investment by Mukesh Ambani's companies in this company.
According to the announcement of RCPL and RRVL companies, 33,38,673 shares of Lotus Chocolate will be acquired at a fixed price of Rs 115.5 per share. The acquisition process will start on 21 February 2023 and end on 6 March 2023. For this, both these companies of Mukesh Ambani will spend Rs 38.56 crore.
Lotus Chocolate Company Limited is a manufacturer of chocolate, cocoa products and cocoa derivatives and its products include cocoa powder, cocoa mass and cocoa butter, which meet industrial and consumer demand.