Heritage Foods has disposed off its entire holdings of 8,92,371 equity shares with a face value of Rs.5/- each held in Praxis Home Retail.

The above shares allotted to the Company by Praxis Home Retail , pursuant to theComposite Scheme of Arrangement among Future Retail and Bluerock eServices and Praxis Home Retail on 8 December 2017.

These above shares were sold through Stock Exchange in Open Market in various tranchesand the net amount of Rs.3.94 crore was received by the company.

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Heritage Foods will hold a meeting of the Board of Directors of the Company on 29 January 2021.

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Shoppers Stop Ltd, Godfrey Phillips India Ltd, Elgi Equipments Ltd, Navneet Education Ltd are among the other stocks to see a surge in volumes on NSE today, 09 December 2020.

Heritage Foods Ltd recorded volume of 11.71 lakh shares by 14:14 IST on NSE, a 15.59 times surge over two-week average daily volume of 75126 shares. The stock gained 20.00% to Rs.335.70. Volumes stood at 57327 shares in the last session.

Shoppers Stop Ltd notched up volume of 25.44 lakh shares by 14:14 IST on NSE, a 14.01 fold spurt over two-week average daily volume of 1.82 lakh shares. The stock rose 14.59% to Rs.223.00. Volumes stood at 3.59 lakh shares in the last session.

Godfrey Phillips India Ltd notched up volume of 8.21 lakh shares by 14:14 IST on NSE, a 9.32 fold spurt over two-week average daily volume of 88097 shares. The stock rose 8.50% to Rs.1,024.00. Volumes stood at 1.31 lakh shares in the last session.

Elgi Equipments Ltd clocked volume of 5.46 lakh shares by 14:14 IST on NSE, a 5.39 times surge over two-week average daily volume of 1.01 lakh shares. The stock gained 9.27% to Rs.148.00. Volumes stood at 75996 shares in the last session.

Navneet Education Ltd recorded volume of 6.18 lakh shares by 14:14 IST on NSE, a 4.96 times surge over two-week average daily volume of 1.25 lakh shares. The stock gained 10.29% to Rs.88.95. Volumes stood at 3.07 lakh shares in the last session.

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These shares were sold through Stock Exchange in Open Market in various tranches and the net amount of Rs 131.94 Crores was received by the company, Heritage Foods said in a BSE filing made during market hours today.

The company added that it will utilise the proceeds for repaying term loans.

Heritage Foods is one of the largest private sector dairy enterprises in Southern India.

The company's consolidated net profit dropped 81.2% to Rs 2.68 crore on a 10.2% fall in net profit to Rs 610.03 crore in Q2 FY21 over Q2 FY20.

On a year-to-date (YTD) basis, the stock has lost 11.39% while the benchmark Sensex has risen 11.27% during the same period.

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