TCPL Packaging shares rally 10% on acquisition of major stake in Creative Offset Printers

TCPL Packaging share prices rallied as much as 9.8 percent intraday to Rs 570 on November 4, the Diwali Muhurat Trading 2021 Day, after the acquisition of major stake in Creative Offset Printers.

The packaging solutions provider said it had approved the acquisition of a majority stake in Creative Offset Printers (COPPL).

“The company has entered into a definitive share purchase agreement to acquire 60 percent equity stake of COPPL.”

With this acquisition, TCPL said it entered into the high potential rigid boxes segment focused on one of the fastest growing smartphone markets in the world.

COPPL’s manufacturing facility is strategically located at Noida to target the large upcoming mobile manufacturing hub in India.