LT Foods is doing well today, rising over 4.5% to Rs.68.95 on the back of volumes going up almost 1.5-times. Its 52-week high is at Rs.90.40.

The company yesterday announced the acquisition of 51% stake in Golden Star Trading Inc. along with its brand Golden Star via its subsidiary L T Foods Americas Inc. with a call option to further acquire 49% stake at the end of 3 years.

The acquisition entails strengthening share of L T Foods Americas in the branded Jasmine Rice market.