LT Foods rallies 6%; HUL inks agreement for sale of rice export business

India Infoline News Service | Mumbai | March 18, 2016 15:51 IST

HUL announced that it has signed an agreement for the sale of its Rice Exports business carried out primarily under the brands ‘Gold Seal Indus Valley’ and ‘Rozana’, to LT Foods Middle East DMCC, a group company of LT Foods Limited (owner of ‘Daawat’).

LT Foods Ltd stock ended 6% higher to Rs.236. HUL announced that it has signed an agreement for the sale of its Rice Exports business carried out primarily under the brands ‘Gold Seal Indus Valley’ and ‘Rozana’, to LT Foods Middle East DMCC, a group company of LT Foods Limited (owner of ‘Daawat’).

The scrip opened at Rs. 235.1 and touched a high and low of Rs. 259.8 and Rs. 232.2 respectively. A total of 647016(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 595.66 crore.
The BSE group 'B' stock of face value Rs. 10 touched a 52 week high of Rs. 314.4 on 24-Nov-2015 and a 52 week low of Rs. 96 on 26-Mar-2015. Last one week high and low of the scrip stood at Rs. 241 and Rs. 219 respectively.
The promoters holding in the company stood at 67.72 % while Institutions and Non-Institutions held 14.46 % and 17.82 % respectively.
The stock traded below its 100 DMA.

***Note: This is a NSE Chart

 

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