TTK Prestige is on the surge today, rising almost 6% at Rs.4611 levels and currently amongst the top three gainers on the BSE. Its 52-week high is at Rs.4970.95 and low at Rs.3520.70.

The stock price is up after the company announced that its UK based wholly owned subsidiary will be acquiring a UK based kitchenware company,  Horwood Homewares.

This UK company is over 100 year old company and enjoys very good brand equity and does not manufacture but sources all from other third parties and resells.  The company is valued at Rs.170 crore and for TTK, this acquisition could mean better presence in UK and Europe, helping leverage its Indian operations. TTK has not divulged that amount it paid to acquire Horwood.