ADF Foods hits record high; Infinity Holdings buys stake via bulk deals

ADF Foods hit an upper circuit of 5% at Rs 527.75 after the counter reported multiple bulk deals on NSE on Thursday (3 December 2020).

The scrip hit an all-time high at Rs 527.75 on BSE. The stock hovered in the range of Rs 506.30 to Rs 527.75 so far.

On Thursday, 3 December 2020, Infinity Holdings bought 4 lakh equity shares (or 1.99% equity) of ADF Foods at Rs 501.20 per share via bulk deal on the NSE. Separately, Infinity Holdings purchased another 12 lakh equity shares (or 5.99% equity) of ADF Foods at Rs 499.04 per share via bulk deal on the NSE.

Sunil Singhania owned-Abakkus Emerging Opportunities Fund-I sold 1.90 lakh equity shares (or 0.94% equity) of ADF Foods at Rs 499 per share via bulk deal on the NSE.

Authum Investment & Infrastructure sold 4 lakh equity shares (or 1.99% equity) of ADF Foods at Rs 501.20 per share via bulk deal on the NSE.

Ebony Advisors LLP sold 4 lakh equity shares (or 1.99% equity) of ADF Foods at Rs 498.75 per share via bulk deal on the NSE.

As of 30 September 2020, Abakkus Emerging Opportunities Fund-I held 2.50% stake, Authum Investment & Infrastructure held 20.43% stake and Ebony Advisors LLP held 2% stake in the company.

ADF Foods' consolidated net profit jumped 35.4% to Rs 12.58 crore on a 56.8% surge in net sales to Rs 94.29 crore in Q2 September 2020 over Q2 September 2019.

ADF Foods is engaged in the business of meal accompliments, can food & ready-to-eat and frozen foods. The firm manufactures and exports food products, such as pickles, chutneys, ready to eat items, paste and sauces, frozen foods and spices.

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