Future Consumer slips 4% after stake acquisition in Genoa Rice Mills

Shares of Future Consumer shed 4 percent intraday on September 30 after the company acquired 50 percent stake in Genoa Rice Mills.

FCL Tradevest, a wholly owned subsidiary of Future Consumer, entered into a definitive agreement to acquire 50 percent stake in Genoa Rice Mills from the joint venture partner, it said.

Genoa is now a wholly owned subsidiary of FCL Tradevest.

At 1207 hours, Future Consumer was quoting at Rs 26.90, down Rs 1.15, or 4.10 percent on the BSE.