Rice shares in focus; LT Foods, Kohinoor Foods, Chaman Lal Setia up over 6%

December 07
11:25 2017
Shares of rice producers rallied by upto 20% on the BSE on back of heavy volumes. LT Foods, Kohinoor Foods and Chaman Lal Setia Exports have rallied more than 6% on the on the Bombay Stock Exchange (BSE), as compared to 0.64% rise in the S&P BSE Sensex at 10:45 AM.

Chaman Lal Setia Exports was locked in upper circuit of 20% at Rs 143, also its 52-week high on the BSE. The trading volumes on the counter more than tripled with 357,000 shares changed hands so far against an average 103,000 shares were traded in past two weeks on the BSE. In past two trading sessions, the stock rallied 30% from Rs 110 on Tuesday, November 5, 2017.

According to the Agricultural and Processed Food Products Export Development Authority (Apeda), exports of agricultural products registered with it jumped to $ 8.73 billion in April-September from $ 7.69 billion in the corresponding period a year ago.

The rise in farm exports was primarily driven by rice, both basmati and non-basmati, which contribute nearly 44% to the country’s annual farm shipments. Exports of rice rose by over 30% in dollar terms and 25% in rupee terms during April-September as European buyers built inventories in anticipation of tighter quality tests effective November 1, the Business Standard reported. CLICK HERE TO READ FULL REPORT.

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