Future Consumer share price surged in late afternoon trade after the FMCG firm said it has inked a long-term agreement with Amazon Retail India Private Limited for distribution of company's portfolio of brands through the online distribution channel.
Share price of Future Consumer rose up to 11.13% to Rs 25.95 in trade today compared to the previous close of Rs 23.35 on BSE. The small cap share closed 8.57% higher at Rs 25.35 on BSE today.
Market capitalisation of the stock rose to Rs 4,869 crore. Future Consumer stock closed 8.80% higher at Rs 25.35 on NSE. The stock has risen 12.67% in last one week. However, Future Consumer share price has lost 42.52% during last one year. 1.99 lakh shares changed hands amounting to turnover of Rs 49.47 lakh.
"The collaboration with Amazon will expand the reach of our brands to new sets of customers on Amazon India's online marketplace. We will be working closely with Amazon to develop marketing and promotion initiatives and look forward to using Amazon's technical expertise and resources to increase the reach of our brands. Our distinct portfolio of brands catering to aspirational categories will be an excellent addition to Amazon's offerings, hence we believe this is a win-win agreement," said Ashni Biyani, Managing Director, Future Consumer Limited.
Future Consumer is engaged in branding, marketing, sourcing, manufacturing and distribution of fast moving consumer goods, food and processed food products. It also has agri-sourcing operations in India. Its product portfolio includes product categories, such as basic foods, ready to eat meals, snacks, frozen and processed food products, beverages, personal care and home care under its own portfolio of brands.