NHC Foods shares hit upper circuit following acquisition plans

Shares of NHC Foods surged 5% to hit the upper circuit on Thursday after the company announced board approval to acquire controlling stakes in two food and beverage businesses.

The company plans to acquire up to an 88% stake in Lotmor Brands Private Limited and up to an 80% stake in Walya's Beverages Private Limited.

Managing Director Satyam Shirishchandra Joshi stated the acquisitions aim to integrate procurement, processing, and distribution networks across the food and beverage value chain.