FMCG stock LT Foods soars high

Stock of LT Foods in Friday’s trade has surged by 8 per cent, as the restrictions imposed by the Union Cabinet have been withdrawn, in relation with exporting all certified organic agricultural products, which may eventually help in boosting their revenue.

Earlier, the Government of India had imposed restriction on exports of 10,000 tonnes per annum to 50,000 tonnes per annum, which they now propose to lift.

However, these products should be certified by the Agricultural and Processed Food Products Export Development Authority (APEDA). 

LT Foods has set a target to double its turnover to Rs 6000 crore by 2020, and out of this turnover 60 percent will be derived from the exports.

‘Daawat’  and  ‘Royal’  are its major brands which generate 20-25 per cent of its revenue, which fall under the organic agricultural products category.

LT Foods Limited is a branded Specialty Foods Company. The Company 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.

LT Foods' stock is currently trading at Rs 67.60 per share, which is up by 9.21 per cent from its previous closing of Rs 61.90, and it has touched high of  Rs 67.65 today.