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This stock has zoomed 174% in 21 days after reversal of trade suspension

Shares of Kohinoor Foods were locked in upper circuit for the 21 straight trading days, up 5 per cent at Rs 21.30 on the BSE.

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Buzzing stocks | kohinoor | Market trends

SI Reporter  |  Mumbai 

stock markets

Shares of Foods were locked in upper circuit for the 21 straight trading days, up 5 per cent at Rs 21.30 on the BSE on Tuesday’s trade. The stock of agricultural products company has zoomed 174 per cent from level of Rs 7.77 on April 6, 2022, after the stock exchanges revoked suspension of trading the security. The stock was last traded on May 3, 2021 and ended at Rs 7.55 on the BSE.

Till 12:59 pm; a combined 11,015 equity shares changed hands with pending buy orders of 2.17 million equity shares on the NSE and BSE. In comparison, the S&P BSE Sensex was up 0.55 per cent at 54,771 points.

Currently, Foods is trading under the T group on the BSE and under BE category on the NSE. In the T2T and BE segment, each trade has to result in delivery and no intra-day netting of positions is allowed.

“The suspension in trading of equity shares of Foods will be revoked w.e.f. April 06, 2022. The trading in the securities of the company will be resumed in “T” group,” BSE said. CLICK HERE FOR DETAILS

Kohinoor Foods is primarily engaged in the business of manufacturing, trading and marketing of food products. The company offers an extensive range that caters to consumers' need across the world – ranging from a wide variety of basmati rice, ready to eat curries and meals, readymade gravies, cooking pastes, chutney's, spices and seasonings to frozen breads, snacks, healthy grains, and edible oils.

The most powerful brand of the company 'Kohinoor' is a household name in countries like USA, UAE, Canada, Australia, Middle East, Singapore, Japan, Mauritius and other European countries.

Meanwhile, Kohinoor Foods on April 27, 2022 announced that the board approved the proposal of raising of funds by issue of equity shares not exceeding Rs 49.50 crore to the eligible equity shareholders of the company and the record date or ratio will be determined later by the board.

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First Published: Tue, May 10 2022. 13:36 IST
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