LT Food stock price jumps 10% after block deal

Shares of LT Foods surged nearly 10% on Wednesday after a block deal transaction, which saw 0.97 per cent of the company’s equity change hands.

The specialty rice and rice-based food products company, which owns brands such as Daawat and Royal, saw its stock shoot up 9.8 per cent to Rs178 on the BSE, an increase of Rs15.9.

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According to BSE block deal records, Abakkus Asset Manager LLP purchased 33,93,543 shares of LT Foods at Rs162.04 per share, accounting for 0.97 per cent of the company’s equity.

The BSE block deal records indicate that the transaction was worth Rs55 crore.

By 1:48 pm, LT Foods shares were trading up 6.54 per cent at Rs173.40.