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Spice Lounge Food Works hits 5% upper circuit amid India market slump

The stock opened at ₹23.42 on BSE, following a ₹22.32 close, and the company said it launched a Food Emulsifier and Agro Division targeting over ₹1,200 crore in revenue.

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Spice Lounge Food Works shares rose 5% to hit the upper circuit on Wednesday, even as India’s benchmark indices fell sharply amid weaker global conditions and higher crude oil prices tied to the escalating conflict in West Asia, LiveMint Markets said. The stock opened at ₹23.42 on BSE, compared with a previous close of ₹22.32, and reached an intraday high of ₹23.43 on 2 September. In early trade, the 30-share BSE Sensex dropped 788.52 points to 76,155.76 and the 50-share NSE Nifty fell 269 points to 23,786.80. Spice Lounge Food Works’ rally also coincided with higher activity, with about 2.55 lakh shares traded during the intraday session on 2 September, according to BSE data. The move followed an exchange filing dated 1 September in which the company said it launched its Food Emulsifier and Agro Division, aimed at building a vertically integrated supply chain through food emulsifiers, agro-sourcing and processing. The division targets revenue of approximately over ₹1,200 crore and is intended to serve the company’s restaurant, QSR and live-events business, including Xora World.

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Latest closeWTI crude $90.79 ▲5.9%|Sensex 76,957.27 ▲0.0%

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