LT Foods rises for 2nd day; up over 51% in six months

LT Foods advanced 2.08% to Rs 113, as the scrip extended gains for second consecutive session.

September 28, 2022 12:41 IST | capital market
In two sessions, the stock has added 3.91% from its recent closing low of Rs 108.75 recorded on 26 September 2022. In the past six months, the scrip has zoomed 51.20% while the benchmark Sensex has lost 0.82% during the same period. On the technical front, the stocks daily RSI (relative strength index) stood at 63.914. The RSI oscillates between zero and 100. Traditionally, the RSI is considered overbought when above 70 and oversold when below 30. On the daily chart, the stock is trading above its 50-day, 100-day and 200-day simple moving average (SMA) placed at 96.19, 87.52 and 81.70, respectively. In an exchange filing made during market hours today, LT Foods said that the credit rating agency has accorded IND A1+? rating to the short-term bank facilities of the company. LT Foods is primarily engaged in milling, processing and marketing of rice with a combined milling capacity of 113 tonnes per hour in India and 8 tonnes per hour in Europe. The companys portfolio comprises branded basmati rice and other speciality rice in addition to organic food and rice-based convenience products. The companys consolidated net profit rose by 25% to Rs 95 crore on a 32% increase in total revenue to Rs 1,620 crore in Q1 FY23 over Q1 FY22. Powered by Capital Market - Live News

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