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LT Foods gets healthier after plans to launch premium rice based snacks

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gained 2.2% to Rs 65.15 at 11:10 on after the company announced its joint venture is launching premium rice based snacks.

The announcement was made during market hours today, 9 October 2017.

Meanwhile, the S&P Sensex was up 40.64 points, or 0.13%, to 31,854.86. The S&P Small-Cap index was up 72.71 points, or 0.44%, to 16,701.94.

On the BSE, 79,119 shares were traded in the counter so far, compared with average daily volume of 87,459 shares in the past one quarter. The stock had hit a high of Rs 65.75 and a low of Rs 63.25 so far during the day. The stock had hit a record high of Rs 84.70 on 23 May 2017. The stock hit a 52-week low of Rs 21.11 on 9 November 2016.

The stock had underperformed the market over the past one month till 6 October 2017, falling 5.56% compared with the Sensex's 0.48% gains. The stock had also underperformed the market over the past one quarter, declining 4.42% as against the Sensex's 1.42% rise. The scrip had, however, outperformed the market over the past one year, surging 142.4% as against the Sensex's 13.19% rise.

The small-cap company has equity capital of Rs 26.67 crore. Face value per share is Re 1.

said that its joint venture with Kameda Seika under the company named as Daawat Kameda India is launching premium rice based snacks under the brand 'KARI KARI' which will be available in Delhi/NCR, Mumbai and Bengalaru in exclusive tie up with modern trade and premium stores.

LT Foods' consolidated net profit rose 10.5% to Rs 34.89 crore on 8.4% rise in net sales to Rs 761.93 crore in Q1 June 2017 over Q1 June 2016.

is a branded specialty foods company. The company is engaged in milling, processing and marketing of branded and non-branded basmati rice, and manufacturing of rice food products in the domestic and overseas market. Its geographical segments include India, North America and rest of the world.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, October 09 2017. 11:27 IST