Promoters bought 73,000 shares: Multibagger rice milling stock with 6,700 per cent returns jumps over 4 per cent with heavy volume!

The stock gave multibagger returns of 1,600 per cent in 5 years and a whopping 6,700 per cent over a decade.

Today, the shares of GRM Overseas Ltd gained 4.5 per cent to Rs 216.25 per share from its previous closing of Rs 206.95. The stock’s 52-week high is Rs 231.35 while its 52-week low is Rs 114.15. The company has a market cap of over Rs 1,200 crore. The shares of the company saw a spurt in volume by more than 1.50 times on BSE.

As of June 2024, the company's promoters bought 73,000 shares and increased their stake to 72.29 per cent and FIIs increased their stake to 0.67 per cent compared to 72.16 per cent and 0.26 per cent in March 2024. The shares of the company have an ROE of 21 per cent and an ROCE of 15 per cent.

Earlier, in a move to strengthen its presence in the Indian packaged food market, GRM Overseas, a leading basmati rice exporter and FMCG player, launched "Gulistan Kachi Ghani Mustard Oil" under its 10X brand. This new product, available nationwide in 1L and 5L packs, caters to the growing demand for unrefined mustard oil perceived to have health benefits, and aligns with GRM Overseas' strategy to expand its subsidiary GRM Foodkraft's product portfolio. To support this domestic expansion and explore acquisitions in the food FMCG sector, GRM Overseas earlier secured Rs 136.5 crore in funding. Additionally, the company signed a two-year exclusive deal with DIPLOMAT GEORGIA to distribute 'Tanoush' basmati rice in Georgia and neighbouring regions and secured a record Rs 600 million order from Yemen's largest basmati rice importer, solidifying its position in the Middle East.

GRM Overseas Ltd, a leading Indian company in the basmati rice industry, mills, processes, and markets both branded (like their 10X brand) and non-branded basmati rice for both domestic consumption and international export. Their product range goes beyond just basmati rice, also including atta flour (Shakti Chakki Fresh) and ready-to-cook biryani kits in various regional styles like Moradabadi, Hyderabadi, and Lucknowi.

The stock gave multibagger returns of 1,600 per cent in 5 years and a whopping 6,700 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. 

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