India's Tilaknagar Industries up on investment in Spaceman Spirits Lab

Tilaknagar Industries

29/03/2023 10:45

** Shares of liquor maker Tilaknagar Industries  TILK.NS 
rise as much as 5.9% to 107.2 rupees, its largest intraday pct
climb since March 17
    ** Co said it agreed to invest 97.5 mln rupees ($1.2
million) in securities of alcohol beverage co Spaceman Spirits
Lab Pvt Ltd through combination of equity shares and compulsory
convertible preference shares
    ** Co will hold 10% of issued and paid-up share capital in
Spaceman Spirits Lab following the investment
    ** Nearly 329,000 shares traded as of 3:00 pm IST, 1.1X the
30-day moving average
    ** Stock down 8.3% YTD as of last close
    
($1 = 82.2950 Indian rupees)
    

 (Reporting by Varun Vyas in Bengaluru)
 ((varunvyas.hebbalalu@thomsonreuters.com;))