Tilaknagar Industries is a leading alcoholic beverage company in India. The company has seen a sudden jump in its stocks after the company said it emerged into an agreement with Pernod Richard India to manufacture its products in India. The company has entered and executed this agreement on April 1, 2921. The company will manufacture PRIPL products at the Company’s bottling facilities in Maharashtra. However, this is an effective agreement and it will be valid for 10 years. Also according to the sources, it was found that the company said that the co-operations could be extended to more states in the near future. This increase in the shares of the companies is a positive point for Tilaknagar Industries in the market.
Rise in shares
The company has seen a surge in its share price. As it has railed for the third trading session. The stock has added nearly 24% in three days from its previous closing low of Rs 29.45 posted on March 31, 2021. It was observed that on NSE Tilaknagar Industries stock rose 15% to close at Rs 35.5 apiece. This is the highest stock rise for the company for over five years.
Beneficial agreement between the companies
Tilaknagar Industries and Pernod Richard are amazing companies in their own field. Frist Tilaknagar Industries were founded in 1933 as Maharashtra Sugar Mills. This company is considered among India’s ten largest distillers and has a diverse portfolio of brands in categories including brandy, whiskey, vodka gin, and rum and selles Mansion House Brandy. In addition to this Pernod Richard is the second biggest alcove firm in India after Diageo’s United Spirits. This company gets a significant chunk from premium and semi-premium brands mainly Blenders Pride, Royal Stag, and Imperial Blue. Now this agreement between the topmost industries in the market will be beneficial for both of them.
Stocks of Tilaknagar Industries
The company has jumped 2.96% to Rs 36.50. This jump will be a positive point for the company. The company is now seen in demand after this agreement. The company has posted a loss of Rs 3.89 crore in Q3 FY21 as against a net loss of Rs 37.46 crore in Q3 FY20.