Basmati rice makers in focus; KRBL, LT Foods up 5%

KRBL, LT Foods and Kohinoor Foods were up between 4-8% on BSE in early morning trade.

Shares of basmati rice exporters have rallied by up to 8% in early morning trade on BSE on media reports that India may resume exports of basmati rice exports to Iran early next year.

KRBL, LT Foods and Kohinoor Foods have surged between 4-8% on the Bombay Stock Exchange (BSE).

According to Business Standard reports, after several rounds of discussions, Iran is likely to start issuing permits to Indian exporters, paving the way for basmati exports.  CLICK HERE TO READ FULL REPORT.

Among the individual stocks, KRBL has rallied 8% to Rs 144 on the BSE. The stock opened at Rs 138 and touched a high of Rs 145 so far. The trading volumes on the counter more than doubled with a combined 173,073 shares changed hands till 0925 hours on BSE and NSE.

KRBL is a food processing company. The company produces packs and exports a variety of rice brands.

Shares of LT Foods surged 5% to Rs 113 after hitting high of Rs 116 on BSE. The company is engaged in the manufacture and sale of rice under the brand DAAWAT.

Kohinoor Foods too gained 4% at Rs 43.85 after hitting high of Rs 44.95 on BSE.  Kohinoor Foods manufactures and markets Indian food products. The company's products include basmati rice, cooked basmati rice pilafs, 'heat & eat' authentic Indian vegetable curry entrees, Indian cook-in sauces, spices, seasonings, wheat flour, and lentils.