LT Foods is currently trading at Rs 65.30, up by 2.15 points or 3.40% from its previous closing of Rs 63.15 on the BSE.
The scrip opened at Rs 64.50 and has touched a high and low of Rs 66.75 and Rs 64.00 respectively. So far 13440 shares were traded on the counter.
The BSE group 'B' stock of face value Rs 10 has touched a 52 week high of Rs 69.85 on 16-Oct-2012 and a 52 week low of Rs 32.05 on 29-May-2012.
Last one week high and low of the scrip stood at Rs 63.80 and Rs 57.40 respectively. The current market cap of the company is Rs 170.03 crore.
The promoters holding in the company stood at 60.40% while Institutions and Non-Institutions held 14.78% and 24.82% respectively.
LT Foods is planning to set up a subsidiary in Africa for milling rice, as it prepares to service the continent’s growing local market, as mentioned in a media report. The company is also in talks with various players for setting up a local milling capacity in Africa. Further, the company plans to invest about $50 million in its African subsidiary over the next three years. The company plans to source the paddy locally and is also discovering ways for contract farming with local farmers.
LT Foods, formerly known as LT Overseas, is the leading processor and exporter of packaged rice under the flagship brand ‘Daawat’. The brand is among the top players in the domestic branded Basmati Rice markets. The ‘Daawat’ brand has been a great success in international markets as well. When it all began about 30 years ago, nobody could have even dreamt that the small trading company that came into being as Lalchand Tirathram Mills could one day be on its way to become a leading global food company.
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