10:1 Share Split, 2:1 Bonus: FMCG stock below Rs 10 launches new campaign in-line with Centre’s initiative
Sarveshwar Foods, a FMCG stock under Rs 10, has announced to launch a new campaign in-line with the Central government’s initiative to promote millets. The company has informed through an exchange filing that it has initiated a campaign to promote millet cultivation in Jammu & Kashmir and Himachal Pradesh via Sarveshwar Facilitation Centres (SFC).
Millets are referred to as “Shree Anna” in India because of their cultural and historical significance. The term “Shree Anna” translates to “the honored grain” or “the mother of all grains”. Millets are a group of small-seeded, drought-resistant cereal crops that are grown for their edible seeds and have been used as a staple food for thousands of years, especially in arid and semi-arid regions of the world.
Millets not only have wealth of health advantages, but are also beneficial for the environment as it requires less water and other resources.
Meanwhile, Sarveshwar Foods shares on Wednesday closed in the red at Rs 8.90 on the BSE. Back in September 2023, the company had split its equity shares in the ratio of 10:1, meaning each stock having a a face value of Rs 10 was split into 10 shares of Re 1 each.
After the split, the company had issued bonus shares in the ratio of 2:1, meaning two additional or extra shares were given to eligible shareholders for every one share of Re 1 face value.
Sarveshwar Foods has a market capitalisation of Rs 870.17 crore. According to exchange data, the FMCG stock has delivered a return of 80 per cent in the past six months. The FMCG stock has turned multibagger in a year period, zooming a whopping 257 per cent, resulting in wealth gain for investors.
(Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. Today Technology Market ResearchDigital suggests its readers/audience to consult their financial advisors before making any money related decisions.)
