Multubagger Stock Under Rs 10: 317 RETURN in 1 Year; Do You Own? Image Source: Canva
Shares Sarveshwar Foods, a leading FMCG company, are among the top performers from the sector on the Dalal Street. After stock split and bonus issuance in September 2023, its shares have nearly doubled investors money. On Friday, the FMCG stock closed at Rs 9.77 apiece on NSE with 57.31 lakh equities changing hands. The company has announced through an exchange filing that it has acquired 100 per cent stake in Green Point.
“This is in continuation to earlier intimation dated February 12, 2024, regarding acquisition of 100 per cent Ordinary shares share of face Value of 1 SGD and Business of Green point Pte. Ltd… the company has acquired 100 per cent ordinary shares and business of the company,” it said in a regulatory filing. “Henceforth, Green Point becomes wholly owned subsidiary of Sarveshwar Foods Limited,” it added.
Green Point is a company incorporated in Republic of Singapore. It belongs is engaged in the wholesale business of general line of groceries. “The acquisition is of strategic nature and it will provide International presence and attract investors and strategic partners to bring relevant experience for the growth and expansion of Business,” it added.
Sarveshwar Foods had in September last year split the face value of equity shares in the ratio of 10:1 (ten for one). Soon after the split, the firm had issued bonus shares in the ratio of 2:1 (two for one). According to BSE analytics, Sarveshwar Foods shares have rallied a whopping 67 per cent in just three months and 91 per cent in six months. The counter has delivered a massive return of 317 per cent in the last one year. Sarveshwar Foods has a market cap of Rs 956.30 crore as on April 5, according to BSE website.
(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.)
