India's Dodla Dairy soars on deal for Sri Krishna Milks

Dodla Dairy

21/03/2022 07:56

** Shares of dairy products retailer  DODL.NS  surge as much
as 20% to 548.45 rupees, their highest since Jan. 21
    ** Stock on track for its best session since listing in June
2021
    ** Co executes https://www.bseindia.com/xml-data/corpfiling/AttachLive/ee6f0a4b-3ce6-4cc3-aa53-ce33baf1ce21.pdf
 agreement to buy Sri Krishna Milks Pvt Ltd for 500 million
rupees ($6.57 million)as it expands business
    ** Acquisition of Sri Krishna Milks to be value accretive in
medium term as it operates in key region of Dodla and has same
products where Dodla has strong understanding - ICICI Securities
    ** The acquisition is likely to strengthen Dodla's presence
in North Karnataka, Goa and south Maharashtra - ICICI Securities
    ** Around 327,024 Dodla shares change hands by 0743 GMT, vs
30-day avg of 34,539 shares
    ** As of last close, stock down nearly 17% so far this year 


($1 = 76.1250 Indian rupees)

 (Reporting by Chandini Monnappa in Bengaluru)
 ((Chandini.M@thomsonreuters.com; 910867497919;))