This Food Processing Stock Hits New 52-Week High, Gains 35% In 2 Days On Stock Split

Hindustan Foods Limited (HFL) specializes in setting up one-stop contract manufacturing solutions and the ability to consistently deliver quality products. It offers flexible business models suitable for any size of customer and across product categories. The stock of HFL is making waves for the last three days and on a gaining spree as the record date for stock split of 1:5 falls today.

The market capitalisation of the company is Rs 6,183 crore at the time of writing the story.

What Is Stock Split: When a company announces stock split, it leads to increased number of shares of that company with the market cap remaining same. The current shares split with the underlying value remaining similar. When the number of shares rise, the price per share declines. The companies go for stock split to make the share more affordable for investors who may find it difficult to buy the shares of that company due to high prices.

Check details below about HFL stock split and stock outlook:

1. HFL Record Date for 1:5 Stock Split Falls Today

Today is the record date for the 1:5 stock split that the board of directors announced in May. The board of directors in their BSE filing stated, "Pursuant to Regulation 42 of Securities and Exchange Board of India (Listing Obligation and Disclosure Requirements) Regulation, 2015, it is hereby informed that, the Board of Directors of the Company has passed the necessary Resolution thro ugh Circular Resolution Today, July 5, 202 2 and has fixed the "Record date" on Friday, July 2 2, 2022 for the purpose of Sub-Division of every 1 (One) Equity Shares of the Nominal/ Face Value ofRs.10/ - (Rupees Ten Only) each into 5 (Five) Equity Shares of the Nominal I Face Value of Rs.2 /- (Rupees Two Only) each.

2. HFL Stock Outlook

The current market price of the stock of HFL is Rs 550 apiece. The stock has also hit a new 52-week high today at Rs 568.80 apiece. In today's trading so far till 10:12 pm the stock has gained 11.52%. In yesterday's trading, the stock rallied 16%. The stock has gained nearly 35% in just two days. The market price of HFL was Rs 413 apiece on 20 July, 2022. In just 1 week the stock has given a return of 34.49%. The stock has given multibagger returns in the last 5 year with 162% return.

3. HFL Overview

Hindustan Foods Limited has created a moat for itself over the last two decades as India's most diversified and trusted FMCG contract manufacturers for marquee brands due to its long standing relationship with majors like Hindustan Unilever, Reckitt Benckiser, Danone, Gabor, US Polo Association, etc. The Client is assured of complete protection of their Intellectual Property, while leveraging the many benefits of outsourced manufacturing facilities and thereby giving them the ability to increase focus on their core competencies, according to its official website.