KRBL shares jump 15%, record biggest single-day gain in over 4 months

Shares of rice processing company KRBL rallied nearly 15 per cent in Tuesday’s trade and saw the biggest single-day gain since May 12, 2022. The stock also traded above all key DMA levels.

At 2:43 pm, the stock was traded 14.24 per cent higher at Rs 366.70 over the last day’s closing of Rs 321 a piece. The stock has surged 70 per cent in the last 3 months, while it has increased over 36 per cent in the last month.

KRBL is one of the largest rice processing and exporting companies from India. It is best known for its India Gate brand of basmati rice.

For the quarter ended June 30 2022, the company reported consolidated net sales of Rs 1,228.23 crore, up 20.89 per cent from the year-ago quarter's net sales of Rs 1,015.91 crore. The company reported a net profit of Rs 164.45 crore for the latest quarter.

The stock has hardly any analyst coverage.

The promoter group holds around 60 per cent stake in the company. Mutual funds hold a 0.24 per cent stake in the company, while FIIs hold 3.34 per cent.

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