Heritage Foods jumped 13.18% to Rs 316.85 after the company said that it has sold its entire holding of over 1.78 crore equity shares of Future Retail for Rs 132 crore.
"These shares were sold through Stock Exchange in Open Market in various tranches and the net amount of Rs 131.94 Crores was received by the company," Heritage Foods said in a BSE filing made during market hours today.The company added that it will utilise the proceeds for repaying term loans.
Heritage Foods is one of the largest private sector dairy enterprises in Southern India.
The company's consolidated net profit dropped 81.2% to Rs 2.68 crore on a 10.2% fall in net profit to Rs 610.03 crore in Q2 FY21 over Q2 FY20.
On a year-to-date (YTD) basis, the stock has lost 11.39% while the benchmark Sensex has risen 11.27% during the same period.
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