Hindustan Composites to acquire stake in Swiggy; stock gains 8.6%

Hindustan Composites shares gained 8.6 per cent and touched an intraday high of Rs 633 per share on BSE. The company’s stock soared after the auto ancillary announced that it has entered into a share purchase agreement with food delivery platform Swiggy.

As of 1:18 PM, shares of Hindustan Composites were up by 4.78 per cent, or Rs 27.85, at Rs 610.5. The market capitalisation of the company at around the same time stood at Rs 901.65 crore.