Packaged foods stocks rally on strong Q4 results
Heritage Foods, DFM Foods and Tasty Bite Eatables have rallied between 7% and 13% on the BSE.
 "Packaged foods stocks rally on strong Q4 results")
Shares of companies engaged in the packaged foods business such as Britannia Industries, Heritage Foods, DFM Foods and Tasty Bite Eatables have rallied between 3% and 13% in an otherwise subdued market after these companies reported a strong set of numbers for the quarter ended March 31, 2015 (Q4).
Britannia Industries was up 3.3% at Rs 2,598, extending its 10% rally in the past three trading sessions on the BSE, after the company reported a strong 55% year-on-year jump in consolidated net profit at Rs 167 crore for the quarter ended March 2015.
The company, a major player in the Indian foods market with leadership position in the bakery category, had posted a profit of Rs 108 crore in the corresponding quarter last year. Currently, the stock is quoting at its lifetime high market price on the BSE.
Heritage Foods has surged 13% to Rs 399, extending its previous day’s 13% rally on the National Stock Exchange (NSE), after reporting 84% year-on-year (YoY) jump in consolidated net profit at Rs 12.75 crore in the March 2015 quarter. The company had posted a profit of Rs 6.92 crore in the same quarter last year.
The company, a major player in the Indian foods market with leadership position in the bakery category, had posted a profit of Rs 108 crore in the corresponding quarter last year. Currently, the stock is quoting at its lifetime high market price on the BSE.
Heritage Foods has surged 13% to Rs 399, extending its previous day’s 13% rally on the National Stock Exchange (NSE), after reporting 84% year-on-year (YoY) jump in consolidated net profit at Rs 12.75 crore in the March 2015 quarter. The company had posted a profit of Rs 6.92 crore in the same quarter last year.
Tasty Bite Eatables has rallied 10% to Rs 1,375 on the BSE. The stock appreciated 41% in past 11 trading sessions from Rs 975 on May 12 after the company's net profit more than doubled at Rs 3.18 crore in the March quarter. It had posted a profit of Rs 1.46 crore in the previous year's corresponding quarter.
DFM Foods has soared 7% to Rs 510, extending its past three day’s gains, after reporting a 73% Y-o-Y growth in net profit at Rs 5.16 crore in the March quarter against Rs 2.98 crore in the year-ago quarter. Currently, the stock is trading at its record high and has zoomed 31% in the past four days from Rs 390 on May 21.