1:10 Stock Split: July 22 - Record Date, Buy At Rs. 59 - 61, Stop-Loss: Rs 53; Target?

For all of the Indian Spice Range's ground and blend spices, NHC FOODS LTD is a one-stop store. The line of masalas sold by NHC FOODS LTD. under the "SAAZ" trademark. It is a global provider of the broadest selection of genuine and premium ground spice products, founded on technology, quality-driven, and customer-oriented values. The firm supplies the top fast food chains and global food companies in the USA, Europe, the Middle East, Canada, and Asia with a wide variety of ground spices and blends. The market capitalization of the FMCG small-cap firm is Rs 83.53 Cr.

NHC Foods Stock Split

"This is to inform you that pursuant to Regulation 42 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations,2015, the Company has fixed Monday, July 22,2024 as the Record Date for determining entitlement of Equity Shareholders for the purpose of split/sub-division of existing Equity Shares of the Company, such that 1(One) Equity share having face value of Rs. 10/ (Rupees Ten only) each, fully paid up, will be sub-divided into 10(Ten) Equity shares having face value of Re. 1/ (Rupee One only) each, fully paid up, ranking pari passu in all respects which was approved by the Equity Shareholders through Postal Ballot on June 30, 2024, as already intimated vide our Letter dated July 1 , 2024," said the company in a stock exchange filing.

lncrease In the Authorised Share Capital of the Company

The Board of Directors recently approved to increase the authorised share capital of NHC Foods from existing Rs. 24,00,00,000/- to Rs. 65,00,00,000/- ranking pari-passu with the existing Equity Shares in all respects as per the MOA of the company.

NHC Foods Share Price Target

"Indian food processing company NHC Food Ltd is trading at Rs. 69. However, its recent price movements suggest overbought conditions, so I recommend waiting for a dip from its current levels to explore this stock. Those interested may consider the buying range between Rs. 59 and 61, for a target price of Rs. 70 and 100. They can hold this stock for a period of 7-35 weeks while following the stop loss of Rs. 53 closely to balance risks," said V.L.A. Ambala, a Research Analyst (SEBI Registered), Co-founder - Stock Market Today (SMT).

Disclaimer

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