The shares of the Mukesh Ambani-held chocolate maker outperformed the benchmark indices today. The stock has been showing a double-digit percentage upward movement when Nifty and Sensex are nearly 0.60% down.
The company was acquired by Reliance Consumer Products (RCPL), the FMCG arm of Reliance Retail Ventures (RRVL) which completed the acquisition of a controlling stake last year in May. The acquisition of Lotus Chocolate is part of Reliance Retail’s strategy to build the fast-moving consumer goods (FMCG) business to compete with confectionery makers Britannia Industries and Nestle India.
Crisil, Den Networks, Integra Essentia, Lotus Chocolate Company, and SG Mart are the five companies that will release their Q4 results today.
Lotus Chocolates is one of India’s select manufacturers of the finest chocolates, cocoa products and cocoa derivatives. Their products are supplied to chocolate makers and chocolate users across the world, from local bakeries to multinational companies. The company was incorporated in 1989 and commenced operations in 1992. It is a well-known reliable business partner for the supply of cocoa and chocolate products. ‘Chuckles’ is a flagship brand of the company which is very popular amongst the children.
The stock of the company has been performing well as it has given 128.5% returns to the investors in the last year and 2849% in the last three years.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
