Rs 1,600 crore projects: The mid-cap company got green signal to set up units in Visakhapatnam and Tirupati; stock hits 52-week high!

This mid-cap stock has delivered outstanding returns to investors over the past decade, with a multibagger return of over 2,500 per cent in 10 years.

CCL Food and Beverages Private Limited, a wholly-owned subsidiary of CCL Products India Ltd, in the context of new projects in the State of Andhra Pradesh, where the State Investment Promotion Board (SIPB) gave approval and the news item read as follows:

1) The CCL Food and Beverages got the green signal to set up its unit at Krishna Palem near Atchutapuram in Visakhapatnam district with an investment of Rs 1,200 crore, providing employment to 1,800 persons.

2) The SIPB also approved the proposals of CCL Food and Beverages to set up its unit at Varadayapalem in Tirupati district with an investment of Rs 400 crore and it will provide direct and indirect employment to 950 persons and benefit 2,500 farmers who are growing coffee. It will produce 16,000 tonnes of coffee every year.

Additionally, the Board of Directors of the company have decided on the following:

The board of directors of Coffee Day Enterprises Ltd. approved the unaudited standalone and consolidated financial results for the quarter ended June 30, 2022. They also approved the notice of the 61st annual general meeting, which will be held on August 31, 2022. The board fixed August 22, 2023 as the record date for payment of the final dividend of Rs 2 per equity share. They also approved the CCL Employees Stock Option Scheme 2022 and decided to establish a green field spray-dried instant coffee manufacturing facility.

On Thursday, shares of CCL Products India Ltd surged 1.48 per cent to Rs 738.40 per share with an intraday high of Rs 743.30 and an intraday low of Rs 715.40. The stock also traded at a new 52-week high of Rs 743.30 per share. In the recent trading sessions, the shares are hitting back-to-back 52-week highs.

This Mid-Cap stock has delivered outstanding returns to investors over the past decade, with a multibagger return of over 2,500 per cent in 10 years. In just 2 years, the stock has given a return of 104 per cent, and in 3 years, the return is over 200 per cent.