Agro Tech Foods declines on profit booking

Agro Tech Foods fell 2.39% to Rs 487.65 at 11:59 IST on BSE, with the stock sliding on profit booking after Thursday's rally triggered by the company reporting strong Q3 December 2016 results.

Meanwhile, the S&P BSE Sensex was down 98.16 points or 0.36% at 27,209.88.

On the BSE, 3,715 shares were traded on the counter so far as against the average daily volumes of 2,624 shares in the past one quarter. The stock had hit a high of Rs 495 and a low of Rs 485.05 so far during the day.

The stock had hit a 52-week high of Rs 560 on 30 August 2016 and a 52-week low of Rs 422.05 on 23 December 2016. The stock had outperformed the market over the past one month till 19 January 2017, advancing 13.24% compared with the Sensex's 3.54% rise. The scrip had, however, underperformed the market over the past one quarter declining 3.54% as against the Sensex's 2.41% fall.

The small-cap company has equity capital of Rs 24.37 crore. Face value per share is Rs 10.

Shares of Agro Tech Foods had jumped 11.47% to settle at Rs 499.60 yesterday, 19 January 2017, after the company after market hours on 18 January 2017, reported strong Q3 December 2016 earnings.

Agro Tech Foods' net profit rose 28.8% to Rs 8.27 crore on 2.7% rise in net sales to Rs 207.57 crore in Q3 December 2016 over Q3 December 2015.

Agro Tech Foods is engaged in the business of marketing food and food ingredients to consumers. It is affiliated to ConAgra Foods, Inc. of USA, which is one the world's largest food companies.

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