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LT Foods soars as arm starts new facility in Uganda

Aug-07-2023   09:45 Hrs IST

LT Foods is currently trading at Rs. 178.80, up by 5.15 points or 2.97% from its previous closing of Rs. 173.65 on the BSE.

The scrip opened at Rs. 171.05 and has touched a high and low of Rs. 178.95 and Rs. 171.05 respectively. So far 2838 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 194.15 on 01-Aug-2023 and a 52 week low of Rs. 85.00 on 11-Aug-2022.

Last one week high and low of the scrip stood at Rs. 194.15 and Rs. 165.30 respectively. The current market cap of the company is Rs. 6030.05 crore.

The promoters holding in the company stood at 51.00%, while Institutions and Non-Institutions held 9.78% and 39.22% respectively.

LT Foods’ subsidiary -- Nature Bio Foods has started a new facility in Uganda, Africa. The new facility will be involved in the procurement and processing of soyabean meal and help in the expansion of the product portfolio, including chia seeds, sesame seeds and sorghum. The plant will have a production capacity of 10,000 tonnes in the first year and aims to scale it up to 18,000 tonnes by 2024. 
Nature Bio Foods is an organic business arm of LT Foods, which sells basmati rice under Daawat and Royal brands.

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