LT Foods, the makers of Daawat basmati rice is very much in the brewing pot today, spreading a rich aroma. The stock is up currently 3.5% at Rs204 and this is after hitting an intra day high at Rs.209. Its 52-week high is at Rs.314.40.

The stock is up, happy with the news coming in from Future Consumer Enterprise, which actually announced the news that its board of directors considered and in-principally approved entering into a joint venture arrangement with LT Foods.

Future Consumer Enterprise said that the board of directors of the company appraised on the perceived strategy for the company. The board was provided with an in-depth understanding for the business opportunities and the plan to build the company as an Indian food and FMCG company for the next generation.