FIIs Bought 57,500 Shares: Do You Have This SME Stock From the FMCG Sector? Script Jumps 4.13 Per Cent Today!
The stock is up by 12.44 per cent from its 52-week low of Rs 213 per share.
On Wednesday, shares of Krishival Foods Limited jumped 4.13 per cent to Rs 239.50 per share from its previous closing of Rs 230 per share. The stock is up by 12.44 per cent from its 52-week low of Rs 213 per share. FIIs bought 57,500 shares and increased their stake to 11.80 per cent in September 2024 as per the NSE exchange.
Krishival Foods Ltd., established in 2014, is a prominent player in the processed nuts and dry fruits industry. The company transforms raw nuts and dried fruits into flavourful, packaged products marketed under Krishival Nuts. Their product range includes cashews, almonds, pistachios, dry figs, and combo packs, which are widely available across 64 tier II and tier III cities in India. The company has a market cap of Rs 534 crore with a PE of 41x, an ROE of 11 per cent and an ROCE of 13 per cent.
Earlier, Krishival Foods Limited announced a strategic investment in Melt ‘N ’Mellow Foods Private Limited. The company will acquire a significant 52.94 per cent stake in Melt ‘N ’Mellow, which is a leading player in the ice cream, milk products, and bakery products market. This acquisition aligns with Krishival Foods' strategy to diversify its business portfolio and enter the growing food and beverage sector. By acquiring Melt ‘N ’Mellow, Krishival Foods will gain access to established brands, a strong distribution network, and expertise in the ice cream, milk products, and bakery products markets. This investment is expected to provide significant growth opportunities for both companies, as they leverage their combined strengths to expand their market reach and product offerings.
In May 2023, the company rebranded from Empyrean Cashews Ltd. to Krishival Foods Limited. To enhance its processing capacity, Krishival Foods acquired a 5-acre plot in Halkarni, MIDC, Kolhapur district, adjacent to its existing processing units. This expansion will enable the company to establish an additional ultra-modern processing unit. Furthermore, Krishival Foods has launched its e-commerce platform to provide customers with convenient online access to its range of nuts and dried fruits.
Disclaimer: The article is for informational purposes only and not investment advice.
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