52-week high alert and 1,100 per cent returns: Board announced bonus shares and stock spilt!

Shares of this company have gained more than 70 per cent in the last six months.

Sarveshwar Foods Limited informed in the exchange filing that the Board of the company has considered the sub-division of face value of equity shares of all the authorized, issued, subscribed and paid-up equity shares of nominal value of Rs. 10 (Rupees Ten Only) each shall stand subdivided into 10 (Ten) equity shares of nominal value of Rs 1 (One Rupee) each fully paid-up.

The board has also recommended the issuance of bonus equity shares of the company in the ratio of 2:1 i.e., 2 (Two) equity shares for every 1 (One) equity Share having a face value of Rs 1 (considering the post-sub-division/split of face value of equity shares).

For the purpose of the same, the board has fixed the record date on Friday, September 15, 2023. The stock is on a rally since the company announced a bonus and stock split. On Friday, the stock made a fresh 52-week high of Rs 142.00 on NSE.

Sarveshwar Foods Limited has delivered multibagger returns to its shareholders in the last three years. During this period, shares of Sarveshwar Foods surged from Rs 10.80 on September 10, 2020, to Rs 138.90 on September 08, 2023, an increase of about 11,150 per cent in three years holding period.

Sarveshwar Foods Limited is primarily engaged in the business of processing and marketing branded and un-branded basmati and non-basmati rice in the domestic and region in the State of Jammu and Kashmir. The company’s product portfolio comprises basmati and non-basmati rice of various kinds including white raw rice, steamed rice, brown rice and parboiled rice.

Disclaimer: The article is for informational purposes only and not investment advice.