Hindustan Foods is currently trading at Rs. 354.80, up by 4.70 points or 1.34% from its previous closing of Rs. 350.10 on the BSE.
The scrip opened at Rs. 350.15 and has touched a high and low of Rs. 354.95 and Rs. 350.15 respectively. So far 673 shares were traded on the counter.
The BSE group 'X' stock of face value Rs. 10 has touched a 52 week high of Rs. 484.00 on 13-Aug-2018 and a 52 week low of Rs. 252.80 on 08-Mar-2018.
Last one week high and low of the scrip stood at Rs. 364.90 and Rs. 350.00 respectively. The current market cap of the company is Rs. 478.71 crore.
The promoters holding in the company stood at 61.87%, while Institutions and Non-Institutions held 0.05% and 38.08% respectively.
Hindustan Foods has received approval for acquiring 40% equity stake of ATC Beverages. The company is acquiring stake with a view to expand its operations and realizing synergies from the combination of businesses of both companies and devising more comprehensive and integrated solutions.
Operational rationalization, organizational efficiency and optimal utilization of various resources due to pooling of management, administrative and technical skills of various resources of both the companies, better administration, and cost reduction. The transaction is expected to be completed by end of February 2019. The Board of Directors of the Company at its meeting held on January 25, 2019 has approved the same.
ATC Beverages engaged in the business of manufacture and distribution of beverages like soft drinks, juices and energy drinks.
Hindustan Foods manufactures high quality cereal based food products and a range of instant mixes, baby foods, instant porridges, breakfast cereals and health drinks.
