In the last five trading sessions, this stock has delivered 25% returns

In the last five trading sessions, this stock has delivered 25% returns

by 5paisa Research Team Last Updated: Dec 14, 2022 - 12:55 am 10k Views
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This stock hit a fresh 52-week high today.

On November 14, the market is trading in a volatile manner. S&P BSE Sensex is trading at 61654.31, down 0.23%, while NIFTY50 is down 0.08% and trading at 18,333.80. About sectoral performance, Metal and Commodity outperformed, while Telecommunication and Consumer Durables are among the top losers. Regarding stock-specific action, Hindustan Foods is among the top-performing stock.

Shares of Hindustan Foods have surged 7.48% and are trading at Rs 600.6, as of 12:27 pm. The stock opened at Rs 571.95 and made an intraday high and low of Rs 610 and Rs 567, respectively.

It primarily operates as a contract manufacturer and has 17 plants spread across India. It manufactures products for FMCG companies in categories such as personal care, home care, and food and beverages. The company also sells leather shoes and accessories, detergents, and pest control products.

Hindustan Unilever Limited, Marico, Scholl, Arvind, Wipro, Dmart, ITC Limited, Godrej, Reckitt, and other well-known companies are partners of Hindustan Food Limited. For international clothing companies like Hush Puppies, Gabor, Steve Madden, Arrow, U.S. Polo, and Louis Philippe, it serves as a contract manufacturer.

In 1988, Hindustan Food was established as a joint venture between the Dempo group and Glaxo India Limited. According to the company's current shareholding structure, promoters own 64.85% of the company's stake, followed by FIIs at 6.04%, DIIs at 6.55%, and non-institutional investors at 22.56%.         

The company has a market capitalisation of Rs 6771 crore and is currently trading at a PE multiple of 109x. The stock has a 52-week high and low of Rs 610 and Rs 325, respectively.

The company recently announced its September quarterly results. For the Q2FY23 quarter, the company revenue increased by 40.49% YoY to Rs 661.79 crore from Rs 471 crore, reported in Q2FY22. While the net profit jumped by 62.5% YoY and came in at Rs 18.93 crore.

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