2:1 Bonus Issue: FMCG Stock Hits Lower Circuit A Day Before Ex-Bonus Date

Small cap stock operating in FMCG sector, Sarveshwar Foods Ltd on Thursday hit lower circuit as shares are set to trade ex-bonus on September 15. Current market price of Sarveshwar Foods share is Rs 145.80 per share. Sarveshwar Foods stock offered shareholders return of 97% in last 3-months and 88% return in last 6-months. Check details below:

Sarveshwar Foods To Trade Ex-Bonus Tomorrow: The board of directors of Sarveshwar Foods on August 29 issued revised record date in its BSE filing saying, "In terms of Regulation 42 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, due to pendency of certain procedural formalities, and consequent technical challenges, we wish to inform you that the 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 Outlook & Return: Current market price of Sarveshwar Foods stock is Rs 145.80 per share with intraday fall of 1.98%. Its 52-week high price is Rs 158.90 per share and 52-week low price is Rs 62.60 per share, respectively. Its market capitalisation is Rs 475.70 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 Financials: The company for the quarter ended June 30, 2023 announced 61% surge in its net profit on quarter-on-quarter (QoQ) basis to Rs 2.91 crore as against Rs 1.81 crore net profit it registered in March 2023 quarter. Its revenue from operations soared 45% QoQ to Rs 187.68 crore for the quarter ended June 30, 2023 as compared to Rs 129.81 crore announced in the quarter ended March 31, 2023.

Sarveshwar Foods About: With over 130 years of experience in sourcing and processing of traditional Basmati rice, Sarveshwar is an amalgam of centuries old values and traditional farming, modern manufacturing processes and state-of-the-art quality systems. It is engaged in manufacturing, trading, exporting of basmati rice and non-basmati rice. Its products portfolio includes basmati and non-basmati rice, brown rice, steamed and Sella rice and white rice (in the form of raw steamed and parboiled rice).

Disclaimer

The stock just highlights the bonus issue 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.