LT Foods jumps on acquiring stake of Daawat Foods from United Farmers Investment Company
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LT Foods is currently trading at Rs. 103.99, up by 2.22 points or 2.18% from its previous closing of Rs. 101.77 on the BSE.
The scrip opened at Rs. 102.00 and has touched a high and low of Rs. 105.80 and Rs. 102.00 respectively. So far 87924 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 135.85 on 28-Oct-2022 and a 52 week low of Rs. 66.50 on 20-Jun-2022.
Last one week high and low of the scrip stood at Rs. 105.80 and Rs. 99.02 respectively. The current market cap of the company is Rs. 3607.26 crore.
The promoters holding in the company stood at 56.81%, while Institutions and Non-Institutions held 8.61% and 34.57% respectively.
LT Foods has completed the acquisition of 5,655,341 equity shares of Daawat Foods from United Farmers Investment Company. Upon completion of transaction, Daawat Foods become a wholly owned subsidiary of the Company. Earlier in November 2022, the company had received approval to execute Share Purchase Agreement with United Farmers Investment Company and Daawat Foods for the acquisition of 5,655,341 stake in Daawat Foods.
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.
