Tilaknagar Industries shares fall after seven days, here's why 

Shares of Tilaknagar Industries snapped their seven-day gaining streak on Wednesday despite a rise in the broader market. Tilaknagar Industries stock slipped 5.43% to Rs 444.10 against the previous close of Rs 469.60. Market cap of the firm stood at Rs 9134.44 crore. 
 
In the previous session, the stock also hit a record high of Rs 487.60. It fell to a 52 week low of Rs 205 on April 7 this year. 

Tilaknagar Industries is in race to acquire Pernod Richard's popular whisky brand Imperial Blue, a CNBC TV18 report said. 

The deal is likely to value Imperial Blue at around Rs 4,000 crore, the report added. 

Clarifying to the above report, Tilaknagar Industries in a filing to bourses said, "The Company explores strategic opportunities from time to time. However, no event has occurred which warrants a disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure  Requirements) Regulations, 2015."

"The Company shall make appropriate public disclosures in accordance with SEBI (Listing Obligations and Disclosure Requirements), Regulations, 2015 and other applicable laws as and when there is a material event under Regulation 30 of the Listing Regulations," added the firm in its clarification. 

The stock is also in news as the company's board is scheduled to meet today to consider a fund-raising proposal.

Tilak Nagar Industries is engaged in primarily involved in manufacturing and sale of Indian Made Foreign Liquor (IMFL).