Select packaged foods shares rally; DFM Foods, Kwality, Tasty Bite hit 52-week high

Tasty Bite, Kwality, DFM Foods, Venky's India, Vadilal Ind, Heritage Foods and Hatsun Agro gained upto 20% on the BSE in intra-day trade.

Shares of select packaged foods shares have rallied by upto 20% with some of them hitting 52-week highs in an otherwise weak market on the BSE.

Tasty Bite Eatables, Kwality, DFM Foods, Venky’s India, Vadilal Industries, Heritage Foods and Hatsun Agro Products gained between 2%-20% on the BSE as compared to 1% decline in the S&P BSE Sensex.

Tasty Bite Eatables has soared 20% to Rs 1,670, also its 52-week high on the BSE. Kwality surged 6% to Rs 132 on the BSE. The stock hit a 52-week high of Rs 135 in intra-day trade and rallied 23% in past two trading sessions after the dairy product manufacturer, has roped in Akshay Kumar as the brand ambassador for the company and its entire range of dairy products.

DFM Foods up 5% at Rs 861 after touching a lifetime high of Rs 885 during intra-day trade. It gained 10% in past three trading sessions after the company announced the brownfield expansion of capacity at its Greater Noida facility has been completed and commissioned.

With this expansion, the total capacity of the company has increased from 20308 MT per annum to 25308 MT per annum, it added.

Heritage Foods too up 2% at Rs 578 after hitting a record high of Rs 587 on the BSE in early morning trade. Yesterday, the stock gained nearly 5% after the company announced that the board has approved the establishment / setting up 2.1 mega watt (MW) wind power project in Andhra Pradesh for captive consumption.

The board has also appointed Suzlon Energy as turnkey contractor for setting up of the 2.1 MW wind power plant in Andhra Pradesh, it added.