Mukul Agrawal-backed Rice Stock Emerges as Top Gainer Today; Recovery Despite Middle East Export Disruption Concerns

LT Foods share price continued its upward move on March 6, 2026, adding to the strong gains recorded in the previous trading session. At around 09:48 AM IST, the stock was trading at Rs 448.60 on the NSE, up Rs 18.45 or 4.29 per cent from its previous close of Rs 430.15.

The stock opened higher at Rs 443 and climbed to an Intraday high of Rs 471.95, marking a surge of more than 9 per cent during the session. With this sharp rise, LT Foods emerged as one of the Top Gainers in the Nifty 500 index.

The rally comes shortly after the stock snapped a six-day losing streak on March 5. During that session, LT Foods shares witnessed a strong recovery and rallied as much as 15 per cent intraday to touch Rs 419.50 on the National Stock Exchange.

Market activity also picked up significantly alongside the price movement. Data from the exchange showed that nearly 31.1 million shares of LT Foods were traded on the NSE, compared with roughly 0.5 million shares in the previous session, reflecting a sharp increase in investor participation.

A similar trend was visible on the BSE, where the stock advanced 12.7 per cent to Rs 415. Trading volumes on the exchange jumped more than 46.52 times, indicating strong buying interest in the counter.

Before this recovery, LT Foods shares had faced pressure due to concerns surrounding geopolitical tensions in the Middle East. Investors were worried that the ongoing crisis could disrupt supply chains and affect trade flows linked to the region.

LT Foods operates in the global FMCG segment and is widely known for its specialty rice and rice-based food products. The company’s flagship brands include Daawat and Royal.

The Middle East remains an important export market for the company’s basmati rice business. As per disclosures made in February, the region contributed about 9 per cent to LT Foods’ overall revenue mix during the first nine months of FY2026 (9M FY26).

Meanwhile, the broader rice export industry is facing operational challenges due to the geopolitical situation. The Indian Rice Exporters Federation (IREF) has approached the Agricultural and Processed Food Products Export Development Authority (APEDA), seeking government support to address shipping disruptions arising from the Iran crisis and instability along key maritime routes.

Exporters have flagged several issues affecting trade, including a shortage of containers, cancellation or suspension of vessel calls to Middle Eastern ports, and rising Logistics expenses.

Freight costs have also moved higher, with international shipping rates increasing by nearly 15–20 per cent. At the same time, war-risk surcharges and insurance premiums for shipments to the Gulf region have surged.

Adding to the cost pressures, marine bunker fuel prices have risen to around USD 580 per tonne from about USD 520 per tonne earlier.

The uncertainty has also affected domestic basmati rice prices, which exporters say have declined by around 7–10 per cent over the past 90 hours, putting pressure on exporters’ working capital cycles.

Despite these sector-wide challenges, the recent surge in LT Foods shares suggests investors may be anticipating a recovery in the stock after the recent correction, supported by strong trading volumes and renewed buying interest.

Disclaimer: The article is for informational purposes only and not investment advice.