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Promoters held 0.22 per cent stake in the company as of 31-Dec-2021, while FII and DII ownership stood at 52.21 per cent and 12.16 per cent, respectively.

With the Fed now likely to raise rates in March, Fed fund futures show traders pricing in as many as five hikes this year, more than the four they had in the run-up to the meeting.

The stock quoted a 52-week high of Rs 442.95 and a 52-week low of Rs 242.0.

A total of 960 shares changed hands on the counter till 12:53PM (IST).

The Nifty Pharma index was trading 2.01 per cent down at 12828.75.

The Relative Strength Index of the stock stood at 34.91 on Thursday.

A total of 7,188 shares changed hands on the counter till 11:26AM (IST)

“The market is saying that the tapering and the quantitative tightening that is going to follow is substitute for rate hikes. Consequently, if quantitative tightening or the run offs as it is called in Fed are going to be very large, then the rate hikes will be that much less. But that means the effectiveness of rate hikes on lending rates is that much less and that will force the Fed to move even more aggressively.”

Heritage Foods Ltd., incorporated in the year 1992, is a Small Cap company (having a market cap of Rs 1758.02 Crore) operating in FMCG sector.

As of 31-Dec-2021, promoters held 69.44 per cent stake in the company, while FIIs held 11.66 per cent and domestic institutional investors had 4.42 per cent.