amaansiddiqui45

Target - 681, Cup & Handle formation

NSE:TATACONSUM   TATA CONSUMER PRODUCT LTD
The Tata Group is in the final stages of acquiring a majority stake of 68 per cent in Supermarket Grocery Supplies, which runs and operates online grocery brand BigBasket, for about Rs 9,300-9,500 crore, said a source close to the development. The deal — biggest in the online grocery space so far—values BigBasket at Rs 13,500 crore (around $1.85 billion). This comes about 20 months after the Hari Menon-led Bengaluru company had entered the unicorn club (companies with valuation of at least $1 billion).

The deal, which is expected to close in the next four to five weeks, will give exit to investors Alibaba, Abraaj Group and IFC . The parties are awaiting approval from the Competition Commission of India ( CCI ).

Stock is also forming Cup & Handle .