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LT Foods gets stronger on plans to inaugurate facility in US

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gained 1.82% to Rs 6.25 at 9:25 on after the company announced that its subsidiary Americas is inaugurating ready to heat facility in Houston to manufacture organic ready to heat rice products.

The announcement was made after market hours yesterday, 11 October 2017.

Meanwhile, the S&P Sensex was up 38.22 points, or 0.12%, to 31,872.21. The S&P Small-Cap index was up 58.83 points, or 0.35%, to 16,769.59, outperforming the Sensex's gains.

On the BSE, 7,295 shares were traded in the counter so far, compared with average daily volume of 91,687 shares in the past one quarter. The stock had hit a high of Rs 67.70 and a low of Rs 66.95 so far during the day. The stock had hit a record high of Rs 84.70 on 23 May 2017. The stock had hit a 52-week low of Rs 21.11 on 9 November 2016.

The stock had outperformed the market over the past one month till 11 October 2017, advancing 2.17% compared with the Sensex's 0.15% fall. The stock had, however, underperformed the market over the past one quarter, falling 1.05% as against the Sensex's 0.27% rise. The scrip had, however, outperformed the market over the past one year, rallying 149.06% as against the Sensex's 13.68% rise.

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

announced that the rationale for setting the facility is to diversify and take lead in this growing segment.

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.

LT Foods 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: Thu, October 12 2017. 09:27 IST