Foods & Inns jumps on land sale plan

Foods & Inns galloped 8.28% to Rs 1,570 at 13:21 IST on BSE after the company scheduled a board meeting on 13 March 2018 to consider sale of factory land at Chembur, Mumbai.

The announcement was made during market hours today, 8 March 2018.

Meanwhile, the S&P BSE Sensex was up 157.85 points, or 0.48%, to 33,190.94. The S&P BSE Small-Cap index was down 7.92 points, or 0.05%, to 17,262.57.

On the BSE, 738 shares were traded in the counter so far, compared with average daily volumes of 2,173 shares in the past two weeks. The stock hit a high of Rs 1,580 and a low of Rs 1,436 so far during the day. The stock hit a record high of Rs 1,667.60 on 14 February 2018. The stock hit a 52-week low of Rs 890 on 28 September 2017.

The small-cap company has an equity capital of Rs 1.61 crore. Face value per share is Rs 10.

Foods & Inns' board at its meeting scheduled on 13 March 2018 will also consider allotment of convertible warrants into equity shares issued to promoters of the company on preferential basis and a proposal for acquisition of additional shareholding in Finns Frozen Foods (India).

Foods & Inns reported 7.38% rise in net profit to Rs 1.60 crore on 1.69% fall in total income to Rs 81.44 crore in Q3 December 2017 over Q3 December 2016.

Foods & Inns is a multi-locational manufacturer and exporter of a range of processed tropical fruits pulps, purees and vegetables with state of the art factories in Mumbai, Chittor, Valsad, Sinnar and Gonde (Nasik). The company's principal divisions are aseptic, canning, spray drying and frozen fruits, IQF vegetables and snacks.

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