Goodricke Group has entered into an agreement with Godfrey Phillips India on October 17, 2017 to acquire their Brands namely; Tea City, SC Gold, Symphony, Samovar, SC Premium, Super Cup, Rangoli and Utsav at a total consideration of Rs 200 million.

Goodricke Group grows, cultivates, manufactures, treats, blends, processes, buys, sells and deals in tea in various forms.

The stock had outperformed the market over the past one month till Oct. 16, 2017, rising 2.52% compared with the Sensex's 1.12% rise. It outperformed the market in past one quarter, gaining 10.01% as against 1.91% rise in the Sensex.

Shares of the company gained Rs 15.35, or 5.97%, to trade at Rs 272.60. The total volume of shares traded was 20,805 at the BSE (2.49 p.m., Tuesday).