Multibagger penny stock below Rs 10 with 1,000 per cent returns hit upper circuit; PAT zooms over 200 per cent & FIIs increase stake – Do you own it?
The stock gave multibagger returns of 140 per cent from its 52-week low of Rs 2.07 and of a whopping 1,000 per cent in 3 years.
Today the Indian stock market was trading lower with the BSE Sensex Index down 0.09 per cent at 71,422 and the NSE Nifty-50 Index down 0.05 per cent at 21,445.
Though the market was trading low, shares of Sarveshwar Foods Ltd hit a 5 per cent upper circuit to Rs 5.02 per share from its previous closing of Rs 4.79 per share. The stock’s 52-week high is Rs 5.56 per share and its 52-week low is Rs 2.07. The shares of the company saw a spurt in volume by more than 2.53 times on BSE.
Sarveshwar Foods Limited (BSE Scrip Code: 543688; NSE Scrip Code: SARVESHWAR), incorporated in 2004 in Jammu & Kashmir, is engaged in the manufacturing, trading and export of Basmati rice, which is long grain rice with a fine texture.
To reach diverse customers across India, Sarveshwar Foods employs a multi-pronged approach, offering its products through over 700 physical "Retail Counters" in key consumption centres, dedicated "Signature Stores" for a premium experience, and a robust online presence via their own website and major marketplaces like Amazon, Flipkart, and Big Basket, ensuring convenient access for everyone.
Sarveshwar Foods Ltd, known for its NIMBARK brand of organic food products, is on a mission to make healthy eating accessible to everyone. As part of its strategic expansion plan, the company recently opened a new NIMBARK Organic Store in Kharar, Chandigarh. This flagship store, operated by their subsidiary Himalayan Bio Organic Foods Limited, is more than just a shop – it's an immersive experience.
The company has a market cap of Rs 491 crore with a 3-year CAGR of 125 per cent. According to Quarterly Results, the net sales increased by 15.2 per cent to Rs 205.22 crore and net profit increased by 220 per cent to Rs 4.83 crore in Q2FY24 compared to Q2FY23. In its annual results, the net sales increased by 14 per cent to Rs 689 crore and net profit increased by 166.7 per cent to Rs 8 crore in FY23 compared to FY22.
In September 2023, FIIs increased their stake to 3.76 per cent from 2.37 per cent in July 2023. The stock gave multibagger returns of 140 per cent from its 52-week low of Rs 2.07 and of a whopping 1,000 per cent in 3 years. Investors should keep an eye on this micro-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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