Multibagger stock under Rs 10: Shares of this small-cap company soar over 33 per cent in just 1 month; Nomura Singapore Ltd boosts stake!
The shares of the company have a PE of 19.07x, a ROE of 40.51 per cent and a ROCE of 46.40 per cent.
Mishtann Foods is in the news due to its expansion plans and after investment by Nomura Singapore Ltd. On Friday, shares of MFL zoomed 2.70 per cent to Rs 9.52 per share with the day’s high of Rs 9.70 and the day’s low of Rs 9.40. The stock is up over 33 per cent in just 1 month.
Mishtann Foods Limited. (BSE: 539594), India's leading agro-food product company with a primary focus on various types of Basmati rice, has announced that it is looking to introduce new products for domestic markets, like free flow iodized salt, crystal salt and rock salt and also ventured into new markets like North Eastern India. The Company expects its top line to rise with these positive actions.
Earlier, the company had announced that it had incorporated a wholly owned subsidiary company named “Grow and Grub Nutrients FZ – LLC” in the United Arab Emirates. The company proposes to focus on international trade with increased exposure in various untapped markets in its growth journey across geographical boundaries. Further, the company is looking to take advantage of the increased demand for Rice across the Middle East and Africa. This subsidiary aims to penetrate the markets of Africa in addition to its existing market.
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Mishtann Foods Ltd offers a wide range of agricultural products, including rice, wheat, spices, and pulses. Nomura Singapore Ltd ODI, over the period, has increased its stake to 1.38 per cent (1.38 crore shares).
Mishtan Foods has a market cap of Rs 952 crore. The company has reduced its debt and delivered good profit growth of 55 per cent CAGR over the last 5 years. The shares of the company have a PE of 19.07x, a ROE of 40.51 per cent and a ROCE of 46.40 per cent. The shares of the company saw a spurt in volume by more than 1.14 times on BSE.
The stock gave multibagger returns of over 180 per cent in just 2 years. In the last financial year, the company declared bonus shares in the ratio 1:1 and a dividend of Rs 0.0010 per share for a face value of Rs 1. This FMCG Small-Cap stock should be kept under the radar.