Heritage Foods gained 3.62% to Rs 558.50 at 12:40 IST on BSE after the company said that its board of directors approved the setting up of a 2.1 megawatts wind power project in Andhra Pradesh for captive consumption.
The company made the announcement during market hours today, 17 December 2015.
Meanwhile, the S&P BSE Sensex was down 5.47 points or 0.02% at 25,488.90.
On BSE, so far 61,985 shares were traded in the counter as against average daily volume of 19,932 shares in the past one quarter.
The stock hit high of Rs 577.50, which is also a record high for the stock. The stock hit low of Rs 542.25 so far during the day. The stock had hit a 52-week low of Rs 280 on 8 May 2015.
The stock had outperformed the market over the past one month till 16 December 2015, rising 10.79% compared with Sensex’s 1.03% fall. The scrip had also outperformed the market in past one quarter, gaining 47.39% as against Sensex’s 1.81% fall.
The mid-cap company has equity capital of Rs 23.20 crore. Face value per share is Rs 10.
Heritage Foods said that the board of directors at its meeting held today, 17 December 2015, appointed Suzlon Energy as turnkey contractor for setting up of a wind power plant in Andhra Pradesh.
Heritage Foods’ consolidated net profit rose 216.6% to Rs 15.29 crore on 14.3% rise in net sales to Rs 576.03 crore in Q2 September 2015 over Q2 September 2014.
The Heritage Group, founded in the year 1992 by Mr. Nara Chandrababu Naidu, is one of the fastest growing has five-business divisions viz., Dairy, Retail, Agri, Bakery and Renewable Energy under its flagship Company Heritage Foods.