Rice shares trade mixed after govt imposes 20% duty on exports of parboiled rice

KRBL share price, rice stocks: After ZeeBiz broke news on Saturday (August 28, 2023) that India had imposed a 20 per cent duty on exports of parboiled rice with immediate effect, shares of prominent rice companies were mixed on Monday (August 28, 2023). While KRBL, Kohinoor Foods Ltd, and Mishtann Foods Ltd were down in early trading on Monday, GRM Overseas Ltd, and LT Foods were trading higher. 

ZeeBiz takes you through the performance of prominent rice stocks on the BSE in early trading on Monday (August 28, 2023).

KRBL

KRBL started Monday's trading session on the BSE at Rs 393.35 before hitting the day's low of Rs 383.00. The share was trading down 2.83 per cent to Rs 386.80 at the time of writing this news. The company's most famous rice brands are India Gate Super Basmati Rice, Indian Farm Parboiled Basmati, NurJahan Parboiled Basmati, and Unity Basmati.      

Kohinoor Foods Ltd

The share of Kohinoor Foods is also trading down after the report of the government curbs on exports. Starting its journey on Monday at Rs 36.85, Kohinoor Foods' share hit a low of Rs 35.80. The share was trading 0.77 per cent down at Rs 35.90 in early trading. The company sells its most famous rice brands under the names of Kohinoor and Charminar.   

Mishtann Foods 

Mishtann Foods share also started trading on Monday on a low note, sliding from Rs 12.71 to a day's low of Rs 12.42. The share recovered a bit but is still down by 1.73 per cent at Rs 12.49 in early trading hours.

LT Foods 

The share of the company which has its rice by the name of the Dawat and Royal brands was also trading higher on Monday. The share opened at Rs 160.90 and rose as high as Rs 169.40 on Monday the morning session on Monday. It was trading up 1.30 per cent at Rs 168.15.  

GRM Overseas Ltd

The share had a roller-coster ride on Monday morning as after opening at Rs 188.55, it went as low as Rs 187.10 before rising as high as Rs 191.85. The share was trading lower 2.11 per cent at Rs 188 at the time of writing this news. GRM Overseas is mainly known for its 10X basmati rice brand.