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ITC reduces stake in Agro Tech Foods
Press Trust of India / Mumbai Sep 08, 2010, 21:25 IST

Food-to-cigarette major ITC today sold 1,22,931 shares in Agro Tech Foods for Rs 3.71 crore via an open market transaction.

As per the bulk deal data available with the Bombay Stock Exchange, ITC sold 1,22,931 shares, representing 0.50 per cent stake, of Agro Tech Foods at a price of Rs 302.09 a piece.

At the end of June quarter, ITC had a 13.87 per cent stake in the company and post this deal its holding will come down to 13.37 per cent. ITC is a promoter group firm of Agro Tech Foods.

Agro Tech Foods is engaged in the business of marketing food and food ingredients to consumers and institutional customers. It is affiliated to ConAgra Foods Inc of USA, which is one the world's largest food companies.

The scrip of Agro Tech Foods today zoomed 7.62 per cent to close at Rs 298.70 on the BSE. ITC ended at Rs 163.85, down by 1.21 per cent.

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