Champagne Indage hits 52-week high

MUMBAI - Champagne Indage rose up 10.89% to Rs 900 on reports that it is all set to acquire stake in a Swedish company for $10 million. It will acquire its distillery assets, ownership/licensing of luxury vodka brands and distribution rights.

At 12:30 pm, the share was at Rs 900, up 10.89 per cent from Friday’s close. The stock had touched a high of Rs 925 on the news. The low was Rs 820. Volume remained low at 3,407 shares against two week average traded quantity of 1,15,512 shares.

Champagne Indage will have the option to acquire up to 49 per cent equity in the Swedish company over three years. It has entered into an agreement through its wholly owned subsidiary Indage Holdings.

The arrangement would increase Champagne Indage's distribution bandwidth in the various global markets in the vodka segment.