Marico, a prominent consumer goods company, witnessed a robust surge in its shares today, reaching a one-year high of Rs 571, even amidst a weak market sentiment. This impressive rally is attributed to the recent deal where Marico will gain a majority stake in Satiya Nutraceuticals, the parent company of ‘The Plant Fix-Flix’ brand.
Marico’s Strategic Move: Gains Majority Stake in Satiya Nutraceuticals
On July 28, Marico shares surged by almost 3%, displaying its strength in the health, beauty, and wellness segment. Its wide-ranging business spans over 25 countries across Asia and Africa, besides India.
The recent development came to light after Marico disclosed its definitive agreement to acquire a significant 58% stake in Satiya Nutraceuticals, valuing the deal at approximately Rs 369.01 crore. The acquisition empowers Marico with a majority shareholding in the plant-based nutrition brand.
From Rs 78,000 to Crorepatis: Marico’s Exceptional Long-Term Growth
Earlier, in the long term, Marico’s shares had demonstrated exceptional growth, transforming an investment of Rs 78,000 into crorepatis over 20 years. From its initial price of Rs 4.38 on July 25, 2003, the shares have soared to Rs 566.80, marking an impressive journey for investors. The recent rally follows a remarkable surge of over 23% in just three months, hitting a one-year record high of Rs 571 on July 28, 2023.
The deal with Satiya Nutraceuticals further strengthens Marico’s position in the market and has attracted significant investor interest, contributing to its ongoing success.