IFB Agro Industries is currently trading at Rs. 752.60, up by 11.75 points or 1.59% from its previous closing of Rs. 740.85 on the BSE.

The scrip opened at Rs. 747.95 and has touched a high and low of Rs. 767.15 and Rs. 727.20 respectively. So far 2733 shares were traded on the counter.

The BSE group ‘B’ stock of face value Rs. 10 has touched a 52 week high of Rs. 770.00 on 14-Jan-2022 and a 52 week low of Rs. 365.40 on 26-Mar-2021.

IFB Agro Industries Last one week high and low of the scrip stood at Rs. 770.00 and Rs. 683.15 respectively. The current market cap of the company is Rs. 716.21 crore.

The promoters holding in the company stood at 65.00%, while Institutions and Non-Institutions held 1.50% and 33.50% respectively.

IFB Agro Industries has received approval from board of directors for an investment of up to Rs 40 crore in Equity Shares and/or Compulsorily Convertible Preference Shares (CCPS) of IFB Refrigeration (IRL) in one or more tranches for a minority stake.

The Company keeps evaluating proposals for equity investment in diverse business as an alternative to investment in mutual funds. Refrigerator’s business being a necessity for every household in the pandemic situation looks promising. Further IRL has an experienced project team in place.

The total investment shall be in two tranches. The first tranche of investment will be in equity Shares and Compulsorily Convertible Preference Shares respectively, whereas the second tranche will be in CCPS only. The audit committee in its meeting held on January 17, 2022, has approved the same.

IFB Agro Industries is primarily engaged in the business of manufacturing alcohol, bottling of branded alcoholic beverages as well as processed marine foods both for domestic and export markets.