Shares of Hindustan Foods Ltd. surged nearly 15% on Wednesday after multiple large trades.
At least 30 lakh shares, or 11% equity, changed hand in multiple large trade, according to Bloomberg. The trade was conducted at Rs 502 apiece. Sellers and buyers were not known immediately.
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Shares of the company jumped 14.84% to hit intraday high of Rs 582 apiece, before paring gains to trade 11.23% higher at Rs 563.70 apiece as of 10:10 a.m. This compares with a 0.08% decline in the benchmark Nifty 50.
The stock has gained 13.8% in the past month and 5% in the past 12 months. The lone analysts tracking the company has a 'buy' call on the stock with a target price of Rs 686 apiece, implying an upside of 22%.
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