2:1 Bonus Issue, 1:10 Stock Split: Multibagger Penny Stock Gets GI Tag, Jumps 5%

Small cap stock operating in FMCG sector, Sarveshwar Foods Ltd on Tuesday gained 4.84% after the company has been granted 1 "Geographical Indication"( GI) tag in Jammu & Kashmir for Basmati Rice by APEDA ( Ministry of Commerce & Industry, Govt. of India).

With this, Sarveshwar Foods limited became the 1st and only company based in Jammu and Kashmir region which has the GI tag for Basmati rice for export purposes.

GI tag awarded by the APEDA (Ministry of Commerce & Industry, Govt. of India) after thorough verification of records, quality of the product, their properties, origan, and procurement, processing procedure adopted by Sarveshwar Foods for its Basmati Rice, and henceforth entitles the company to affix GI Tag on its packaging for export.

Commenting on the occasion, Mr. Rohit Gupta, Chairman of the Company said "it is an honour for entire team that Sarveshwar Foods Limited has become the first and the only Company from Jammu & Kashmir to obtain Geographical Indication"( GI) from APEDA ( Ministry of Commerce & Industry, Govt. of India) for Basmati Rice. He further added "We are hopeful that with use of the GI tag, Sarveshwar Foods limited will be able to augment its strength both in the domestic tariff area as well as in International market for its Basmati rise in the coming times.

Sarveshwar Foods Bonus Issue In 2023: The board of directors of Sarveshwar Foods in 2023 fixed September 15 as record date for 2:1 bonus shares. As per its BSE filing saying, "Board of Directors has revised Record Date to Friday, September 15, 2023 for the purpose of ascertaining the eligibility of securityholders entitled for 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 Shares having a face value of Re. 1/- (considering the post sub-division/split of face value of equity shares)."

Sarveshwar Foods Stock Split In 2023: In 2023, it also announced sub-division/split of company's 1 (one) Equity Shares of the Company having a face value of Rs. 10/- each into 10 (Ten) Equity shares of the company having face value of Re. 1 each, subject to the approval of shareholders to be obtained in the ensuing extra-ordinary general meeting and such other approvals as may be required. In this regard, the record date for such division/ split shall be intimated to the stock exchanges in due course." The record date for stock split was September 15.

Sarveshwar Foods Stock Outlook & Return: Current market price of Sarveshwar Foods stock is Rs 7.12 per share with intraday gain of 9.88% (Jan 10, 2024). Its 52-week high price is Rs 7.12 per share and 52-week low price is Rs 2.07 per share, respectively. Its market capitalisation is Rs 696.92 crore. Sarveshwar Foods stock gained 10% in last 2-weeks, soared 27% in last 1-months, and offered 64% return year-to-date.

Sarveshwar Foods About: The Company is engaged in the business of manufacturing, trading, processing, and marketing ofbranded and un-branded basmati and non-basmati rice in the domestic and international markets.Our operations are based out of the India's Jammu Region. SFL hassustainable and eco+ve legacy of serving healthy and tasty rice for more than 130 years and in last couple of decades proliferated its heritage to other premium categories of FMCG and Organic products. SFL belongs to the lands in foothills of Himalayas which is nourished by fertile mineral-rich soil,organic manure and snow melted waters of river Chenab, wherein without using any artificial fertilizers and chemicals, they produce full range of 'ORGANIC' products, being sold with brandname 'NIMBARK'- conceptualized to spread the philosophy of the 'SATVIK' conscious lifestyle.

Disclaimer:

The stock just highlights the rally in share after GI tag and is not a recommendation to buy, sell or hold. We have not done fundamental or technical analysis and have no opinion on the stock mentioned. Neither, the author nor Greynium Information Technologies should be held liable for ay losses. Please consult a professional advisor.