ITC is expected to conclude its Rs 3,498-crore acquisition of Century Pulp and Paper next week, according to sources. The deal completion hinges on transferring certain leases from Aditya Birla Real Estate, the entity holding Century Pulp and Paper, to ITC. Neither ITC nor the Aditya Birla Group responded to queries at the time of reporting.
Aditya Birla Sun Life AMC shares jumped up to 4.75% to a 52-week high of Rs 1,098.90, fueled by bullish notes from brokerages and strong Q4 performance. Motilal Oswal reiterated a BUY rating, citing positive momentum. The rally raises the question many investors ask: do fundamentals justify chasing the move, or is caution warranted?
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