LT Foods up 6 per cent after announcing the inauguration of a manufacturing facility in Sonipat
On Friday, LT Foods announced that Kameda India Private Limited, a 51:49 joint venture between LT Foods Limited and Kameda Seika, Japan, has inaugurated a manufacturing facility in Sonipat.
Based on changing consumer needs and preferences and the demand for tasty and healthy snacks, the JV has ventured into the premium snacks category in India with its rice-based snacks. Post the successful test launch of rice-based snacks in Delhi-NCR, Mumbai ,and Bangalore across modern trade stores, the company has plans to manufacture these snacks in India at its Sonipat manufacturing facility.
LT Foods is a branded specialty foods company 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. Its operations mainly include contract farming, procurement, storage, processing, packaging, and distribution.
By Friday's market close, the stock was trading at Rs 22.35 up by 6.43 per cent or Rs 1.35 per share. The 52-week high was recorded at Rs 45.30 and the 52-week low was recorded at Rs 18.