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01-Dec2017

LT Foods advances on strengthening its brand presence in European market

LT Foods is currently trading at Rs. 73.15, up by 2.85 points or 4.05% from its previous closing of Rs. 70.30 on the BSE.

The scrip opened at Rs. 72.00 and has touched a high and low of Rs. 73.85 and Rs. 72.00 respectively. So far 78,000 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 1 has touched a 52 week high of Rs. 84.70 on 23-May-2017 and a 52 week low of Rs. 25.65 on 26-Dec-2016.

Last one week high and low of the scrip stood at Rs. 73.85 and Rs. 69.00 respectively. The current market cap of the company is Rs. 1,959.00 crore.

The promoters holding in the company stood at 67.16%, while Institutions and Non-Institutions held 3.76% and 29.08% respectively.

LT Foods has marked an extension to its strategy for the critical European market, including UK by launching the new avatar of its leading brand 'Daawat'. The company is extensively working on expanding its geographical footprints and product portfolio in these markets and plans to invest $20 million with increased sales from the current 5,000 tonnes to 30,000 tonnes in the branded segment over the next four years. Additionally, this move will benefit 5000 farmer families in India as the raw material would be sourced from India.

Additionally, all 'Daawat' rice variants including Quick Cooking Brown Rice, Original Basmati Rice and Extra Long Basmati Rice will get the refreshed look and feel which will stand-up on the shelves from March 2018. This new initiative will help the brand get a new look with more information on customer benefits.

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.


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