Scripscan:Amrit Corp Ltd
cmp:260
Code:507525
Story:New York based food company - Bunge Limited has acquired the edible oils and fats business of Amrit Banaspati Company Limited.The deal includes Amrit Banaspati's manufacturing facility in Rajpura - Punjab, rights to it's brands and trademarks, its sales and distribution business and transfer of employees pertaining to its edible oils and fats business to Bunge India.Bunge India is also acquiring the rights to the vanaspati brand - Gagan held by Amrit Corp which is currently licensed to Amrit Banaspati.Seven decades old Amrit Banaspati has a manufacturing plant in Punjab. It's portfolio of brands in bakery fats, vanaspati and refined oils include Amrit, Bansari, Ginni, Marigold and Sunehri Teer apart from Gagan vanaspati ghee which it manufactures under license from it's sister concern Amrit Corp Limited.Post transaction, Amrit Banaspati will continue to operate a consumer trading division and may also venture into real estate business.The stock of amrit corp should remain in action in the coming days.Shareholders can also expect a fat dividend to be announced in the coming days.
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