look news india
Reliance Industries Limited has recently acquired an FMCG company Lotus Chocolate Company Limited. After this, it seems as if the fortunes of this company have changed. On 24 May 2023, Reliance Consumer Products (RCPL), the FMCG division of Reliance Retail Ventures of Reliance Group, officially bought the stake of the company. Since then, the share price of this company has been increasing continuously.
Shares of Lotus Chocolate Company once again touched the upper circuit on Thursday with a gain of 5 per cent. The stock has been hitting the upper circuit continuously for the last 17 trading sessions. On Thursday, the price of this stock reached Rs 1525.40. This stock has gained 116 per cent in the last one month. In May 2023, Reliance Consumer Products, the FMCG division of Reliance Retail Ventures (RRVL), bought 51 per cent stake in Lotus Chocolate for Rs 74 crore. An additional 26 per cent stake was acquired by RCPL through an open offer.
Isha Ambani's vision
The vision behind acquiring Lotus Chocolate is of Isha Ambani, Executive Director of Reliance Retail. While purchasing the partnership, she said in a statement that the investment in Lotus reflects our commitment to serve customers at affordable prices by promoting indigenously manufactured high quality products for daily use.
He further said that after the acquisition of Reliance Group, this stock has seen a continuous rise and its share price has increased from Rs 176 to Rs 1525. Despite getting super multibagger returns, this stock has not stopped rising. For the last two weeks, the stock has been hitting an upper circuit continuously. Investors who have invested in this stock in the initial stage or even in the last one month are making huge profits. This stock has given a return of 800 percent in 15 months.
The acquisition of Lotus Chocolates is part of Reliance Retail's strategy to expand its fast-moving consumer goods (FMCG) business, which the company has recently entered. This will put RIL in competition with companies such as refinery manufacturers Britannia Industries and Nestle India. Reliance Retail Ventures is a subsidiary of Mukesh Ambani-led Reliance Industries and is the holding company for all retail businesses under the RIL group.
