9,000 per cent returns: Shares of this multibagger small-cap company jump over 27 per cent in just 2 days on volume breakout and new products launch!
The stock gave multibagger returns of 885 per cent in 3 years, 1,200 per cent in 5 years and a whopping 9,000 per cent over a decade.
On Thursday, shares of GRM Overseas Ltd jumped 9.45 per cent to an intraday high of Rs 230.40 per share from its previous closing of Rs 210.50. Earlier the shares of the company jumped over 17 per cent. The stock’s 52-week high is Rs 498 and its 52-week low is Rs 212.
The total value of equity shares traded on the NSE for this agriculture products company was over Rs 36 crore, with more than 16.4 lakh shares changing hands. The shares of the company saw a spurt in volume by more than 5 times.
Additionally, GRM Overseas Ltd, one of India’s leading basmati rice exporters and a growing consumer staples player, announced that the company has launched its packaged products - Besan, Daliya, Maida, Poha and Sooji under the “10X Shakti” Brand under its subsidiary company GRM Foodkraft Private Limited. These new products will be available to consumers through General trade and Modern trade channels, with a special focus on the various E-commerce platforms to ensure a wider reach of these products.
Speaking about the new product launches, Mr Atul Garg, Managing Director of GRM Overseas, said, ‘We are excited to add these high-quality products to our 10X Shakti portfolio, as part of our commitment to providing reliable and healthy products to households. We are confident that these new products will be well-received by our customers and help us become a dominant consumer staples brand in the country.’
DSIJ’s 'multibagger Pick’ service recommends well researched multibagger stocks with High Returns potential. If this interests you, do download the service details here.
The company has a market cap of over Rs 1,300 crore and has reported positive numbers in its Quarterly Results and annual results. The company has a good return on equity (ROE) track record: a 3-year ROE of 32.4 per cent and has been maintaining a healthy dividend payout of 32.3 per cent.
The stock gave multibagger returns of 885 per cent in 3 years, 1,200 per cent in 5 years and a whopping 9,000 per cent over a decade. Investors should keep an eye on this Small-Cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.