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Heritage Foods (India) Ltd has announced a bonus issue of one share for every share held.
The dairy and retail company has secured shareholders nod to change the company’s name from Heritage Foods (India) Ltd to Heritage Foods Ltd.
Following the company reporting buoyant numbers and announcing bonus, the share price has shot up by 6 per cent during the day’s trade and quoting at Rs 520.
The company’s net profit for the first quarter ended June 30, 2013 shot up significantly to Rs 15.05 crore up from Rs 8.44 crore. It logged revenues of Rs 435.57 crore against Rs 414.03 crore for the corresponding quarter last year.
Heritage Foods plans to set up another ice cream plant in Chittoor district of Andhra Pradesh.
rishikumar.vundi@thehindu.co.in
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