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Shares of Dodla Dairy on Monday surged 20 per cent after the company acquired Sri Krishna Milks Pvt Ltd for Rs 50 crore to expand its business.
The stock jumped 19.23 per cent to Rs 548 on the BSE. At the NSE, it zoomed 19.99 per cent to Rs 548.45.
Dodla Dairy Ltd on Saturday said it has acquired Karnataka-based Sri Krishna Milks Pvt Ltd for Rs 50 crore to expand its business.
In a regulatory filing, Dodla Dairy informed that the company has executed an agreement with Sri Krishna Milks for the acquisition of the business as a "going concern" and on a slump purchase basis for consideration of Rs 50 crore.
The deal is expected to be concluded in around two months from the date of the acquisition. The consideration would be in the form of cash.
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