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09-Aug2018

Future Consumer shines on entering into JV Agreement with Fonterra

Future Consumer is currently trading at Rs. 47.55, up by 0.95 points or 2.04% from its previous closing of Rs. 46.60 on the BSE.

The scrip opened at Rs. 47.25 and has touched a high and low of Rs. 48.05 and Rs. 46.85 respectively. So far 252358 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 6 has touched a 52 week high of Rs. 79.45 on 27-Dec-2017 and a 52 week low of Rs. 36.85 on 11-Aug-2017.

Last one week high and low of the scrip stood at Rs. 51.20 and Rs. 45.80 respectively. The current market cap of the company is Rs. 9099.97 crore.

The promoters holding in the company stood at 44.51%, while Institutions and Non-Institutions held 17.48% and 38.01% respectively.

Future Consumer has entered into a 50:50 Joint Venture (JV) Agreement with Fonterra (Europe) Cooperatie U.A, subsidiary of Fonterra Co-operative Group, New Zealand, on August 08, 2018.

The objective of the joint venture is to introduce full range of consumer and foodservice dairy products in India. The company and Fonterra shall, subject to such further consents and approvals that may be required, make investment at face value in the equity capital of the joint venture company to be formed.

Future Consumer (formerly Future Consumer Enterprise) is a holding company. It is a food company, which is engaged in branding, marketing, sourcing, manufacturing and distribution of fast moving consumer goods, food and processed food products. It also has agri-sourcing operations in India.



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