Jhunjhunwalas sell 1.46 lakh shares of this food distribution firm

Ace investor Rakesh Jhunjhunwala and his wife Rekha Jhunjhunwala have cut stake in Agro Tech Foods to 5.14% in the April-June quarter, as per the latest regulatory filing. The couple together sold 1.46 lakh shares in Q1. Earlier in March quarter, Jhunjhunwalas held 5.75% stake in the company.

Agro Tech Foods shares today touched an intraday high of Rs 534, rising 3.68% on BSE against the last closing of Rs 515.05. The stock opened at 518.45, also its intraday low. The stock of Agro Tech Foods has gained 2% in one month and 6% in one year.

Agro Tech share price stands higher than 50 and 100 day but lower than 5, 20 and 200-day moving averages. Market capitalisation of the firm stood at Rs 1,275.12 crore as of today's session.

Foreign portfolio investors have cut stake in the refined oil company to 8.48% in the April-June quarter from 8.58% in the last quarter.

Contrary to this, mutual funds' stake remained unchanged at 2.93% in Q1 FY21. Kochi-based investor Porinju Veliyath's EQ India Fund also kept his stake stagnant at 1.06% during the quarter.

Agro Tech Foods Q1FY21 earning figures are scheduled to be released on July 23, 2020. In the quarter ended March 31, the company posted a 54% drop in its consolidated net profit to Rs 3.90 crore against the net profit of Rs 8.55 crore in the corresponding quarter last year.