Foods & Inns hits 20% upper circuit for second straight day on HNI buying

On Friday, April 12, 2019, Mahendra Kumar had bought 1,21,000 shares of Foods & Inns at Rs 222.87 per share on the BSE.

Shares of Foods & Inns were locked in the upper circuit for the second straight day, up 20 per cent at Rs 268 on the BSE on high net worth individuals (HNI) buying.

The trading volumes on the counter nearly doubled with 2,79,000 shares changing hands till 11:24 am on the BSE. On an average, 1,68,000 shares were traded daily in the past two weeks. There were pending buy orders for 37,831 shares, the exchange data shows.

In the past three days, the stock of Foods & Inns has zoomed 48 per cent, as compared to one per cent rise in the S&P BSE Sensex.

On Friday, April 12, 2019, Mahendra Kumar had bought 1,21,000 shares of Foods & Inns for Rs 2.70 crore. The individual investor had purchased shares at price of Rs 222.87 per share on the BSE.

Earlier, on Thursday, April 11, 2019, RK Damani’s, Derive Investments had purchased 7,92,000 shares representing 4.72 per cent stake in Foods & Inns for Rs 14.58 crore through block deal. The firm bought shares at price of Rs 184.06 apiece, the BSE data shows.

Kailash Jain & Sons, Goutam Jain & Sons (HUF), Deep Chand Raghu Nath and Daksha Jayeshbhai Thakker have collectively sold 3,95,000 shares of Foods & Inns, the data shows.

Foods and Inns is a multi-locational manufacturer and exporter of a range of processed Tropical fruits pulps, purees and vegetables with state of the art factories in Mumbai, Chittor, Valsad, Sinnar and Gonde (Nasik).