Top Gainer in BSE 500: This small cap packaged food company had a power-packed day on the bourses

The shares of Tasty Bite Eatables Ltd zoomed 11.16 per cent in today’s session to emerge as the top gainer in the “A” Group.

The shares of Tasty Bite Eatables Ltd zoomed 11.16 per cent in today’s session to emerge as the top gainer in the “A” Group. 

Investors should keep this stock on their radar as the stock has been attracting buyers after touching a 52-week low on June 20 at Rs 8012.60. The shares of this packaged food company have corrected significantly from the 52-week high levels of Rs 21470.50. In a year, the stock has shed a good 168 per cent from its highs. 

The company manufactures and markets its products under the brand name “Tasty Bite”. This ready-to-eat easy-to-cook packaged food company has posted unflattering results for Q4 wherein its business saw a degrowth of 17.7 per cent YoY while the profits were a meagre Rs 4.66 crore, a degrowth of 66.43 per cent.

The stock has been an underperformer with YTD negative returns of 30 per cent. Compared to this, the BSE 500 has corrected by 11.43 per cent YTD and BSE Small cap by 16.39 per cent. 

At a CMP of Rs 9680, the shares of Tasty Bites Eatables Ltd are trading at a PE multiple of 242 which is significantly higher than the industry average of 45. Investors should keep an eye on Tasty Bite Eatables Ltd to know if it continues the last few sessions’ positive momentum.