Mishtann Foods In Expansion Spree As Nomura Singapore Hikes Its Holding

Mishtann Foods is in news due to its expansion plans and after investment by Nomura Singapore. The financial company has raised its holding in the agro food product company.

Mishtann Foods shares rallied 17% in five trading sessions from its recent closing low of Rs 8 on 5 June 2023. On the BSE, 39.80 lakh shares were traded in the counter so far compared with average daily volume of 41.07 lakh shares in the past two weeks.

The stock hit a high of Rs 9.7 and a low of Rs 9.4 so far during the day. The stock hit a 52-week high of Rs 11.8 on 10 Jun 2022.

Mishtann Foods has released its new plan for expanding product portfolio by announcing that it is looking to introduce new products for domestic markets, like free flow iodized salt, crystal salt and rock salt and also ventured into new markets like North Eastern India.

Nomura Holdings, over the period, has increased its stake to 1 per cent. The company says it expects its top line to rise with these positive actions.

Earlier, the company had announced that it had incorporated a wholly-owned subsidiary company named "Grow and Grub Nutrients FZ - LLC" in United Arab Emirates. The company proposes to focus on international trade with increased exposure in various untapped markets in its growth journey across geographical boundaries.