The stock rose 19.23 percent to Rs 548 on the BSE.
The shares of Dodla Dairy gained 20% on Monday after the company paid Rs. 50 crores for Sri Krishna Milks Pvt Ltd in order to grow its operations.
On the BSE, the stock increased 19.23% to Rs. 548. On the NSE, it surged by 19.99 percent to Rs. 548.45.
Dodla Dairy Ltd said on Saturday that it has bought Sri Krishna Milks Pvt Ltd in Karnataka for Rs. 50 crores in order to grow its operations.
Dodla Dairy said in a regulatory filing that it has reached an agreement with Sri Krishna Milks for the acquisition of the firm as a “going concern” and on a slump buy basis for Rs. 50 crores.
The transaction is expected to be completed in two months from the acquisition date. The payment mode will be in cash form.