Heritage Foods has moved higher by 12% to Rs 902 on BSE on back of heavy volumes after a media report suggests that Future Group to announce acquisition of the company’s retail outlets today.
On clarification of the news
report, Heritage Foods said that Board of the company is meeting this afternoon to consider the transaction.
We can give further update only once Board decides on the possible transaction, it added.
Earlier on September 19, 2016, Heritage Foods announced that both the groups have been in discussion for possible business association.
At 02:45 pm, the stock was up 11% at Rs 890 on BSE, as compared to 0.90% rise in the S&P BSE Sensex. The trading volumes on the counter jumped an over four-fold with a combined 397,009 shares changed hands on the BSE and NSE so far.