India's Prataap Snacks soars on Avadh Snacks acquisition plan

Prataap Snacks

23/08/2018 07:15

** Shares of Prataap Snacks Ltd  PRAT.NS  surge as much as
17.7 to 1,290 rupees
    ** Stock posts biggest intraday pct gain since their trading
debut in Oct last year
    ** Co on Wednesday said it would buy 76.88 pct stake in
Gujarat-based Avadh Snacks Pvt Ltd for 1.48 bln rupees ($21.12
mln) urn:newsml:reuters.com:*:nFWN1VD0FI
    ** Prataap Snacks is known for its Yellow Diamond brand
which manufactures potato chips 
    ** Over 200,000 shares change hands, about 30 times its
30-day avg of 6,867 shares
    ** Stock down 12.3 pct this year, as of last close 

($1 = 70.0900 Indian rupees)

 ((arnab.paul@thomsonreuters.com@reuters.net))