News Connect Today

In a move aimed at bolstering its war chest for acquisitions and future growth, Tata Consumer Products Limited (TCPL) announced a Rs 5,000 crore rights issue, marking a significant step for the Indian FMCG giant. This capital injection will not only fuel the company's ambitious acquisition plans but also strengthen its financial position and pave the way for further expansion. Strategic Acquisitions Take Center Stage: The primary driver behind the rights issue is TCPL's recent string of acquisitions. The company's recent purchase of a 75% stake in Capital Foods, with the remaining 25% to be acquired over three years, stands at Rs 5,100 crore. Capital Foods brings popular brands like Ching's Secret and Smith & Jones into the TCPL fold, significantly diversifying its product portfolio and adding high-margin segments. Additionally, the Rs 1,900 crore acquisition of Organic India grants TCPL access to the lucrative organic food market and its established pharma distribu...

News Connect Desk: Nestle India's 2024 stock split has caused a dip in share price as trading commenced in a 1:10 ratio ex-split, starting today. The subdivision was set by the Nestle India board with a record date of January 5, 2024. Nestle India shares split 10 for 1, bringing the price down and making it easier for retail investors to join the brand growth.  The stock faced selling pressure early on Friday, opening lower and hitting an intraday low of ₹2,657 per share on the BSE, marking a nearly 2% decline from Thursday's closing price of ₹2,711.60 per share. This development is expected to attract attention from investors and market observers as Nestle India's shares become more accessible. The board of directors fixed January 5, 2024, as the record date for the subdivision, meaning a ₹10 face value share will be split into ten shares with a face value of Re 1 each. Nestle India disclosed the stock split record date to Indian stock market bourses, citing Regulation 42 ...