LT Foods gains on getting nod to invest up to Rs 140 crore in NBFL

LT Foods Ltd. | Consumer Food | FMCG | BSE: 532783 | NSE: LTFOODS

03 Sep 2018 Evaluate

LT Foods is currently trading at Rs. 55.90, up by 0.50 points or 0.90% from its previous closing of Rs. 55.40 on the BSE.

The scrip opened at Rs. 56.45 and has touched a high and low of Rs. 57.00 and Rs. 55.60 respectively. So far 282738 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 1 has touched a 52 week high of Rs. 109.90 on 08-Jan-2018 and a 52 week low of Rs. 52.05 on 24-Jul-2018.

Last one week high and low of the scrip stood at Rs. 57.00 and Rs. 55.10 respectively. The current market cap of the company is Rs. 1791.13 crore.

The promoters holding in the company stood at 56.01%, while Institutions and Non-Institutions held 17.43% and 26.56% respectively.

LT Foods has received an approval for the proposed investment of up to Rs 140 crore by India Agri Business Fund II in the share capital of Nature Bio Foods (NBFL), a wholly owned subsidiary of the company, in one or more tranches in terms of the definitive agreements signed amongst the parties and subject to fulfillment of certain conditions as set out in the definitive agreements.

The Board of Directors of the company at their meeting held on August 31, 2018, approved the same.

LT Foods is a branded specialty foods company. It 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.