India's Mrs. Bectors Food hits record high on Q2 profit jump

Mrs. Bectors Food Specialities

13/11/2023 09:34

** Shares of Mrs. Bectors Food Specialities  MRSB.NS  rise
as much as 9.4% to a record 1,373.95 rupees
    ** Stock climbed 3.2% in special "muhurat" trading session
on Sunday on account of the Diwali festival
    ** Maker and distributor of food products said its Q2 consol
profit jumped 70.1% YoY; revenue up 19.3%
    ** Biscuits segment - its biggest - records 25.7% growth,
led by high-teens volume growth and premiumisation - ICICI
Securities
    ** Brokerage adds, bakery growth rate decelerated on delay
in expansion plans due to capacity constraints and slowdown in
institutional bakery demand
    ** Stock set to rise for seventh straight session, if trend
holds
    ** Nearly 649,000 shares change hands as of 2:48 p.m. IST,
3.1x the 30-day moving average
    ** Stock last up 5.8%; including session's moves, stock up
3.2x YTD

 (Reporting by Varun Vyas in Bengaluru)
 ((varunvyas.hebbalalu@thomsonreuters.com))