TTK Prestige shares ended over 4 per cent higher after the company announced the acquisition of UK-based Silampos, through which it has gained full control of table and cookware supplier Horwood Homewares.
The stock surged nearly 8 per cent to Rs 4,696.50 in the intra-day session on BSE, but gave up some of the gains, ending at Rs 4,527.15, up 3.86 per cent.
On NSE, the scrip settled with 4.21 per cent gains at Rs 4,535.45.
The acquisition has been carried out by TTK British Holdings, a wholly-owned subsidiary of TTK Prestige.
This transaction is a step forward in strengthening the globalisation strategy of TTK Group by introducing and expanding globally renowned brands in the home appliances segment, the company said in a statement today.
TTK Prestige Executive Chairman T T Jagannathan said: "Horwood brands will provide a strong footing for the rapid expansion of TTK's business in the European markets."
Horwood has been in operations since 1896 and is one of the largest table and cookware suppliers in the UK with brands Horwood, Stellar and Judge. The business had revenue of 18 million pounds in 2015.
TTK Prestige is a major player in India's kitchen appliances segment.
