LT Foods surges 14% in two days on heavy volumes; stock nears 52-week high

Ratings agency CRISIL believes organic business profitability of LT Foods should lead to higher consolidated EBITDA in the fourth quarter of 2022.

Shares of LT Foods were up 4 per cent to Rs 89.40 on the BSE in Tuesday’s intra-day trade. The stock rallied 14 per cent in past two trading days in an otherwise a weak market on the back of heavy volumes.

In comparison, the S&P BSE Sensex was down 0.37 per cent at 58,508 points at 10:37 am. The trading volumes on the counter nearly doubled as a combined 8.9 million equity shares changed hands on the NSE and BSE. The stock quoted close to its 52-week high level of Rs 90.40, touched on May 24, 2021. Earlier,