Future Consumer spurts as food park facility may soon kick off operations

Future Consumer Enterprise rose 5.89% to Rs 13.30 at 13:04 IST on BSE after the company said that operations at its food park facility in Karnataka are proposed to commence by end of September 2014.

The announcement was made after market hours on Wednesday, 10 September 2014.

Meanwhile, the BSE Sensex was down 51.36 points, or 0.19%, to 27,006.05.

On BSE, so far 30.77 lakh shares were traded in the counter, compared with an average volume of 5.67 lakh shares in the past one quarter.

The stock hit a high of Rs 13.59 so far during the day, which is also a record high for the counter. The stock hit a low of Rs 11.80 so far during the day. The stock hit a 52-week low of Rs 4.51 on 26 November 2013.

The stock had outperformed the market over the past one month till 10 September 2014, rising 30.29% compared with 6.82% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 45.54% as against Sensex's 5.76% rise.

The small-cap company has an equity capital of Rs 964.92 crore. Face value per share is Rs 6.

Future Consumer Enterprise said that the operations at the company's 110 acre food park facility, namely India Food Park, Tumkur, Karnataka are proposed to commence by end of September 2014 with a formal inauguration.

India Food Park is an initiative of Future Group and Ministry of Food Processing, Government of India, held under Future Consumer Enterprise through one of its associate company - Integrated Food Park, the company said in a statement.

On a consolidated basis, Future Consumer Enterprise reported a net loss of Rs 17.21 crore in Q1 June 2014, lower than net loss of Rs 16.52 crore in Q1 June 2013. Net sales rose 107.9% to Rs 288.19 crore in Q1 June 2014 over Q1 June 2013.

Future Consumer Enterprise is among the fastest growing Indian FMCG companies in India and adopts an integrated approach with presence across the entire food value chain. The company has developed specialized expertise in agri-sourcing, manufacturing, brand development and rural and urban distribution and boasts a number of popular food and FMCG brands.

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