Shares of Hindustan Foods zoomed 15 percent in trade on June 26 following a block deal worth Rs 638.40 crore. Around 1.27 crore shares of Hindustan Foods changed hands on the exchanges at a floor price of Rs 502 per share. The floor price of the block deal offered a discount of around one percent from the stock's previous closing price.
Moneycontrol could not immediately ascertain the buyers and sellers involved in the transaction.
The deal also tipped off a meteoric spike in volumes in the counter as 21 lakh shares changed hands on the exchanges so far, manifolds the one-month daily traded average of one lakh shares.
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The FMCG firm recently forayed into sports shoe manufacturing after it acquired SSIPL Retail, through its arm, for Rs 77 crore. The company has acquired SSIPL's manufacturing facilities located in Bangran and Bhagani in Himachal Pradesh, as well as Kundli in Haryana.
Hindustan Foods, which is a key supplier of packaged consumer items to names like Hindustan Unilever, Marico and Danone has been trying to diversify its presence into newer categories.
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