Prataap Snacks falls over 4.50% after firm denies reports of selling stake to ITC
After market hours on Thursday, bourses sought clarification on the news report whether ITC was purchasing a stake in the company. In its reply, Prataap Snacks said, The Company is not in negotiations as reported in the above-referred news article.
Prataap Snacks Share Price: After having a field day on Thursday, Prataap Snacks shares slid in morning deals on BSE on Friday (February 23, 2024) after the company denied reports that ITC was eyeing purchasing a stake in the snacks firm.
After Prataap Snacks gave a clarification to bourses regarding the ITC development, the stock of the snacks firm was trading down by 3.51 per cent, or Rs 43.05, at Rs 1183.75 at 9:55 am on Friday.
The stock that closed at Rs 1226.80 after gathering momentum on Thursday lost it on Friday morning, slipping to the day's low of Rs 1168.40, or 4.76 per cent.
After market hours on Thursday, bourses sought clarification on the news report whether ITC was purchasing a stake in the company.
In its reply on Thursday evening, Prataap Snacks said, "The Company is not in negotiations as reported in the above-referred news article."
It further said, "We are not aware of any information that has not been announced to the Exchanges, which requires disclosures under Regulation 30 of the SEBI (LODR) Regulations, 2015."
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.