Tasty Bite Eatables today figures among the top five gainers on the BSE currently. The stock opened over 2.5% higher at Rs.12100 and rose 13% to hit an intraday high at Rs.13322. Volumes have jumped up over 15-times.
The company announced after market hours yesterday that its capacity addition/expansion of its existing line at its plant situated in Pune, Maharashtra is completed.
The cost of aforesaid expansion project and other improvement plans etc undertaken was Rs. 28 crore and was met from internal accruals.
The company said that it was planning to undertake further expansion of existing facility over a period of next 3 years to increase plant capacity to serve market demand. The cost of the same is expected to be around Rs. 150 crore, which will be partly funded by internal accruals and partly by loans.
The company manufactures a range of consumer packaged goods, of pre-prepared ready to eat, all-natural Indian and pan-Asian cuisine. In August 2017, a majority of the owner company of Tasty Bite was acquired by Mars, Incorporated and holds 74.22% stake through the company Preferred Brands Foods India.