L T Foods rose 1.46% to Rs 230 at 14:50 IST on BSE after the company said that it has entered into an MoU with Future group to set up a joint venture.
The announcement was made during market hours today, 11 March 2016.Meanwhile, the BSE Sensex was up 108.80 points, or 0.46%, to 24,736.26.
On BSE, so far 3,310 shares were traded in the counter, compared with an average volume of 3,239 shares in the past one quarter. The stock hit a high of Rs 235.70 and a low of Rs 226.30 so far during the day.
The small-cap company has an equity capital of Rs 26.45 crore. Face value per share is Rs 10.
L T Foods said that the joint venture will undertake the business of sourcing, manufacturing, marketing, sales, and distribution of regional rice like sona masoori rice/south Indian rice.
On a consolidated basis, net profit of L T Foods rose 55.2% to Rs 16.86 crore on 2.5% rise in net sales to Rs 725.99 crore in Q3 December 2015 over Q3 December 2014.
L T 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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