NHC Foods is currently trading at Rs. 19.50, up by 0.90 points or 4.84% from its previous closing of Rs. 18.60 on the BSE.
The scrip opened at Rs. 18.10 and has touched a high and low of Rs. 21.90 and Rs. 18.10 respectively. So far 1054835 shares were traded on the counter.
The BSE group 'XD' stock of face value Rs. 10 has touched a 52 week high of Rs. 28.45 on 08-Aug-2016 and a 52 week low of Rs. 12.25 on 25-Feb-2016.
Last one week high and low of the scrip stood at Rs. 24.65 and Rs. 18.00 respectively. The current market cap of the company is Rs. 25.07 crore.
The promoters holding in the company stood at 60.21%, while institutions and non-institutions held 0.01% and 39.79% respectively.
NHC Foods, a two star export house and manufacturer of the spices under the brand SAAZ Masala, is eyeing to raise funds through its stake sale. Malaysia based MAP Enterprises is in talks with NHC Foods for picking a stake in the company. MAP Enterprises has been the company’s overseas partner for the past two decades and hence has opted to backward integrate to boost its import business and also to be part of India’s growing spice Industry through the Brand ‘SAAZ’. Both companies have mutually decided to take this relationship to the next level.
The talks comes close to heels of the company’s plans to raise funds through sale of its fully automated manufacturing unit in Pardi, stake sale as well as promoters contribution in order to become a debt-free company over the next 24 months.
Further, the company, with cash inflow, intends to clear off debt burdens which will help increase profitability and also divert additional resources for its SAAZ brand. The company plans to restructure its activities by consolidating its functioning from a centralized location which will increase productive efficiency and optimize operational costs.
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