LT Foods jumped 6.5% to Rs 302.90 at 12:26 IST on BSE after the company said it has acquired 817 Elephant brand of rice through its UK subsidiary to further strengthen its existing presence in Canada, USA and Israel.
The announcement was made on Saturday, 16 July 2016.Meanwhile, the S&P BSE Sensex was up 147.31 points or 0.53% at 27,983.81.
On BSE, so far 31,000 shares were traded in the counter as against average daily volume of 8,333 shares in the past one quarter. The stock hit a high of Rs 306.85 and a low of Rs 288.90 so far during the day. The stock had hit a record high of Rs 314.40 on 24 November 2015. The stock had hit a 52-week low of Rs 144 on 25 August 2015. The stock had outperformed the market over the past one month till 15 July 2016, gaining 20.66% compared with Sensex's 4.15% rise. The scrip had also outperformed the market in past one quarter, advancing 27.25% as against Sensex's 8.62% rise.
The small-cap company has equity capital of Rs 26.66 crore. Face value per share is Rs 10.
On consolidated basis, LT Foods' net profit fell 74.4% to Rs 5.55 crore on 14% growth in net sales to Rs 805.13 crore in Q4 March 2016 over Q4 March 2015.
LT Foods offers branded basmati rice, value-added staples and organic food. L T Foods operations include contract farming, procurement, storage, processing, packaging and distribution. It is also engaged in research and development to add value to rice and rice food products.
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