L T Foods advances after fixing record date for stock split

L T Foods gained 1.89% to Rs 323 at 9:40 IST on BSE after the company said that its board of directors fixed 8 February 2017 as the record date for 10-for-1 stock split.

The announcement was made after market hours yesterday, 4 January 2017.

Meanwhile, the BSE Sensex was up 182.28 points, or 0.68%, to 26,815.41.

On the BSE, 2,344 shares were traded in the counter so far, compared with an average volume of 6,355 shares in the past one quarter. The stock had hit a high of Rs 324 and a low of Rs 321.05 so far during the day. The stock had hit a record high of Rs 331 on 3 January 2017. The stock had hit a 52-week low of Rs 180 on 12 February 2016.

The stock had outperformed the market over the past one month till 4 January 2017, gaining 19.11% compared with Sensex's 1.53% gains. The stock had also outperformed the market in past one quarter, advancing 19.62% as against Sensex's 6% decline.

The small-cap company has an equity capital of Rs 26.66 crore. Face value per share is Rs 10.

On a consolidated basis, net profit of L T Foods rose 9.4% to Rs 25.01 crore on 20.4% rise in net sales to Rs 829.24 crore in Q2 September 2016 over Q2 September 2015.

L T Foods offers branded basmati rice, value-added staples and organic food. L T Foods operations include contract farming, procurement, storage, processing, packaging and distribution. It is also engaged in research and development to add value to rice and rice food products.

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