IFB Agro Ind hikes wholesale, retail margins on MRP

India Infoline News Service | Mumbai | August 12, 2017 12:21 IST

IFB Agro Industries Friday has informed that West Bengal Excise order dated August 01, 2017 has amended the wholesale and retail margins for packaged Country Spirit at 4% and 8% of the declared MRP.

Stock Market Uncertainty
IFB Agro Industries on Friday has informed that West Bengal Excise order dated August 01, 2017 has amended the wholesale and retail margins for packaged Country Spirit at 4% and 8% of the declared MRP, respectively across all brands and pack sizes.

The same has become effective from August 10, 2017. In accordance to the direction of the West Bengal Excise, the company has increased the prices of its IMIL brands with effect from August 10, 2017.

The company has started selling all its IMIL brands to West Bengal State Beverages Corporation.

Meanwhile, the stock on Friday’s trade ended in positive territory gaining 0.99% at Rs 397.35 per share. The stock on NSE attracted a total traded volume of 5,757 shares and a traded value of Rs 22.80 lakh.

Stock view:

IFB Agro Industries Ltd ended at Rs 401.45, up by Rs 8 or 2.03% from its previous closing of Rs 393.45 on the BSE.
 
The scrip opened at Rs 388.5 and touched a high and low of Rs 401.8 and Rs 379.05 respectively. A total of 6772(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 372.32 crore.
 
The BSE group 'B' stock of face value Rs 10 touched a 52 week high of Rs 496.9 on 17-Feb-2017 and a 52 week low of Rs 327.2 on 22-Nov-2016. Last one week high and low of the scrip stood at Rs 437.8 and Rs 379.05 respectively.
 
The promoters holding in the company stood at 65 % while Institutions and Non-Institutions held 1.39 % and 33.61 % respectively.
 
The stock traded below its 200 DMA.

***Note: This is a NSE Chart

Disclaimer: The contents herein is specifically prepared by ‘Dalal Street Investment Journal’, and is for your information & personal consumption only. India Infoline Limited or Dalal Street Investment Journal do not guarantee the accuracy, correctness, completeness or reliability of information contained herein and shall not be held responsible.

 

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