Hindustan Foods advances 41% in 4 days on Rs 125 crore capex plan

The management said the demand for contract manufacturing in FMCG industry is growing rapidly.

Shares of Hindustan Foods hit a fresh record high of Rs 1,459, rallying 12 per cent on the BSE in intra-day trade on Monday, after the company announced capex of Rs 125 crore to set up a manufacturing facility in north India as part of its goal to more than double its revenue to Rs 2,000 crore by fiscal year 2021-22. The company is one of India’s largest fast moving consumer goods (FMCG) contract manufacturer. In the last four trading days, the ctok has surged a massive 41 per cent. 

On December 22, the company announced that it will undertake