FIIs bought 14.45 per cent stake & DIIs bought 4.95 per cent stake in FY24: Stock in green as Board is likely to announce stock split!

The stock is up by 20 per cent from its 52-week low of Rs 1,218.50 per share.

Sapphire Foods India Ltd informed that the meeting of the Board of Directors of the company is scheduled to be held on Wednesday, June 19,  2024, to consider and approve, inter-alia, a proposal for alteration in the share capital of the company by sub-division / stock split of existing equity shares of the company having face value of Rs 10/- each, fully paid up.

Sapphire Foods India Ltd., established in 2015, is a major franchise operator for Yum! Brands in India, Sri Lanka, and the Maldives. They hold the rights to operate KFC, Pizza Hut, and Taco Bell restaurants across these regions, with over 400 locations in total. As of November 2023, this includes 383 KFCs and 422 Pizza Huts, making Sapphire Foods Sri Lanka's largest international quick-service restaurant chain with 122 outlets spread across 52 cities. Yum! Brands, the American fast-food corporation they partner with, is a global giant in the industry owning popular chains like KFC, Pizza Hut, and Taco Bell, with a presence in over 135 countries.

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The company has a market cap of over Rs 9,000 crore and has delivered good profit growth of 26 per cent CAGR over the last 5 years. As of March 2024, FIIs bought a 14.45 per cent stake & DIIs bought a 4.95 per cent stake and increased their stake to 29.95 per cent and 32.39 per cent respectively, in the company in FY24 compared to 15.50 per cent and 27.45 per cent respectively in FY23.

Today, shares of Sapphire Foods India Ltd gained 1.85 per cent to Rs 1,440.35 per share from its previous closing of Rs 1,414.20 with an intraday high of Rs 1,479.95 and an intraday low of Rs 1,381.25. The stock is up by 20 per cent from its 52-week low of Rs 1,218.50 per share. Investors should keep an eye on this Small-Cap stock.

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