Shares of Mrs Bectors Food Specialities, which sells its products under its flagship brand 'Cremica' and 'English Oven' in India, tanked as much as 9 percent on Wednesday following reported block deals on bourses. However, the names of the buyers are not ascertained immediately.
About 96.3 lakh shares - representing 16.4 percent of the total equity of Mrs Bectors Food - worth Rs 295 crore changed hands at Rs 305 per share.
As many as 9.85 lakh shares changed hands on BSE so far on Wednesday as against a daily average of 0.5 lakh shares in the past two weeks.
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At 11:13 am, shares of the company were trading 5.9 percent lower at Rs 317.4 on BSE. The stock touched an intraday low of Rs 307 today.
Bectors Large Trade | 96.3 lakh shares (16.4% equity) worth ₹295 cr change hands at ₹305/sh pic.twitter.com/R4AGwoBwF2
— CNBC-TV18 (@CNBCTV18Live) April 13, 2022
The stock has been falling for the last five days and is down around 13.03 percent during the period. However, the stock had opened with a gain of 5.43 percent today.
Mrs Bectors Food’s stock had hit a 52-week low of Rs 278 on March 31, 2022. The stock has underperformed the market in the past 3-6 months after reporting a weak set of numbers.
In the past three months, the stock is down 17 percent whereas the Nifty500 index slipped 3 percent during the same period.
Mrs Bectors Food reported a 25 percent year-on-year (YoY) decline in profit after tax (PAT) at Rs 16 crore in the third quarter that ended in December 2021 (Q3FY22) due to elevated raw material and packaging cost.
The Ludhiana-based company Mrs Bectors Food Specialities specialises in food production. According to its latest annual report, the biscuit and bakery firm is a leading brand in the premium and mid-premium biscuits category in north India, and one of the largest exporters of biscuit products from India.
The company has around 5 percent market share of the branded bread segment in India and 11 percent market share of semi-processed and dough-based offerings in India.
First Published: Apr 13, 2022 12:41 PM IST
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