Heritage Foods (India) has rallied 6% to Rs 524 after its board approved the issue of bonus shares in the ratio of 1:1, i.e. one share for every equity share held.
The stock opened at Rs 528 and touched high of Rs 543 on NSE. A combined around 30,000 shares have changed hands on the counter in early morning deals against an average sub 15,000 shares that were traded daily in past two weeks on NSE and BSE.
“The board of directors of the company at its meeting held on Wednesday has also approved to set up the second ice cream plant at Mattam village in Chittoor district of Andhra Pradesh, “the company said in a release.
Meanwhile, the company engaged in packaged foods business has reported 74% year-on-year rise in its net profit at Rs 14.68 crore for the first quarter ended June 30, 2013, against Rs. 8.45 crore in the same period in the previous year.
The stock opened at Rs 528 and touched high of Rs 543 on NSE. A combined around 30,000 shares have changed hands on the counter in early morning deals against an average sub 15,000 shares that were traded daily in past two weeks on NSE and BSE.
“The board of directors of the company at its meeting held on Wednesday has also approved to set up the second ice cream plant at Mattam village in Chittoor district of Andhra Pradesh, “the company said in a release.
Meanwhile, the company engaged in packaged foods business has reported 74% year-on-year rise in its net profit at Rs 14.68 crore for the first quarter ended June 30, 2013, against Rs. 8.45 crore in the same period in the previous year.
