FMCG Multibagger Penny Stock Partners With NBFCs, Shares Hit 10% Upper Circuit

Small cap company from the FMCG sector Sarveshwar Foods Ltd shares today hit 10% upper circuit after the company initiated strategic partnership with NBFCs to enhance financial support to its associated farmers. Current market price of Sarveshwar Foods shares on BSE is Rs 10.64 per share with gain of 9.92% in trade today. Sarveshwar Foods has a market capitalisation of Rs 1041.46 crore. Sarveshwar Foods shares offered stunning returns of 132% in last 1-year and gained 24% in last 1-week only. Check details below:

Sarveshwar Foods Begins Key Alliance With NBFCs: According to the regulatory filing of Sarveshwar Foods dated September 9, 2024, "drawing on a rich history of commitment to quality and community, Sarveshwar Food Limited recognizes the vital role that farmers play in its operations. These new collaborations are aimed at providing essential financial resources, enabling farmers to invest in modern agricultural practices and infrastructure. Through these partnerships, Sarveshwar Food Limited seeks to fortify the agricultural ecosystem and ensure the stability and growth of its supply chain."

Under the proposed arrangement, Sarveshwar Food Limited will facilitate the connection between NBFCs and farmers. The financing arrangements will be conducted directly between the NBFCs and the farmers, with no recourse to the company.

"Farmers are at the heart of our success, and their well-being is intricately linked to our mission," said Mr. Rohit Gupta, Chairman and Managing Director of Sarveshwar Food Limited. "We are leveraging our extensive network and longstanding relationships to forge these strategic partnerships. By collaborating with NBFCs, we aim to provide essential resources that will empower our farmers and enhance their capabilities."

Sarveshwar Foods Shares Performance & Return: The 52-week high price of Sarveshwar Foods shares on BSE is Rs 15.73 per share (as on 28/02/2024) and 52-week low price is Rs 4.03 per share (as on 30/10/2023), respectively. Sarveshwar Foods shares gained 22% in last 1-month, slipped 20% in last 6-months, and jumped 81% year-to-date (YTD).

Sarveshwar Foods Bonus Issue In 2023: The board of directors of Sarveshwar Foods in 2023 declared bonus share in the ratio of 2:1 and set September 15 as record date.

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. The record date for stock split was September 15 as well.

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, according to its official website.

Disclaimer:

The stock highlights partnership with NBFCs 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.