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Reputation: 642,713 • Nov 22, 2023 3:06 AM

Titan gets CCI nod for additional stake purchase in CaratLane

The combination relates to the acquisition of 27.18 per cent share capital of CaratLane (a subsidiary of Titan) by Titan Company Ltd, on a fully diluted basis, from Mithun Padam Sacheti, Siddhartha Padam Sacheti, and Padamchand Sacheti, according to a release

The Economic Times

𝗡𝗲𝘄𝘀 𝗦𝘂𝗺𝗺𝗮𝗿𝘆
• The Competition Commission of India has cleared Titan's acquisition of an additional 27.18% stake in CaratLane, a subsidiary of Titan.
• Titan is set to increase its stake in CaratLane to 98.28% for Rs 4,621 crore.
• Shares of Titan hit a 52-week high and the company's market cap increased to Rs 3.01 lakh crore, making it the 17th most valuable company in India.
https://economictimes.indiatimes.com/markets/stocks/news/...
#TCS #TITAN 

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