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Dodla Dairy shares on Monday reached their upper circuit-level during the early deals before correcting slightly but maintained a bullish stance so far. Sharp buying sentiment in Dodla comes after when the company executed a Business Transfer Agreement with Sri Krishna Milks Private Limited (“SKMPL").

Under the agreement, Dodla will acquire the Business of Krishna Milks as a “going concern". The transaction is for a consideration of Rs50 crore.

On NSE, at around 2.35 pm, Dodla shares were trading at Rs533.20 apiece rising by Rs76.15 or 16.66%. The shares have hit a 20% upper circuit of Rs548.45 apiece earlier today.

On BSE, Dodla shares touched an intraday high of Rs548 apiece in the early trades which was slightly shy of its upper circuit of Rs551.50 apiece.

Dodla's acquisition of Krishna Milks is part of its expansion plan for the company. The transaction is expected to complete around 2 months from the date of the agreement.

Dodla and Krishna Milks executed the business transfer agreement on March 19.

Incorporated in March 1989, Krishna Milks is mainly into procuring milk, manufacturing, and selling Dairy Products (Milk and Milk Products).

Dodla was incorporated in 1995 and production commenced in 1997, and since then has expanded into a wide range of portfolios consisting of Milk, Butter Milk, Ghee, Curd, Paneer, Flavoured Milk, Doodh Peda, Ice Cream, and Sweets. The company's distribution and marketing operations consist of the distribution of our products through 40 sales offices, 3,285 distribution agents, 861 milk distributors, and 544 milk product distributors across 11 states in India.

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