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Hindustan Foods locked at 10% upper circuit on 2 orders for supply of leather shoes

July 07, 2017 / 01:32 PM IST
Representative Image Photographer: Dhiraj Singh/Bloomberg via Getty Images

Representative Image Photographer: Dhiraj Singh/Bloomberg via Getty Images

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Hindustan Foods shares were locked at 10 percent upper circuit at Rs 176.30 intraday Friday on bagging two orders for the supply of leather shoes.

There were pending buy orders of 9,768 shares, with no sellers available, at 13:13 hours IST on the BSE.

"... has successfully bagged orders from two new customers for manufacturing and supply of leather shoes," the Goa-based company said in its filing.

One order is from Reliance Brands under Steve Madden brand and second is from Arvind Lifestyle Brands under US Polo & Arrow brands, it added.

In December last year, Hindustan Foods had acquired certain moveable and immovable assets of Ponds Export Limited, a subsidiary of Hindustan Unilever.

Pursuant to this acquisition, the company started manufacturing leather shoe uppers and accessories at Puducherry.

The company has been able to integrate the operations and has managed the transition without any disruption of supplies to the European customers, it said.

Posted by Sunil Shankar Matkar

first published: Jul 7, 2017 01:32 pm