2:1 Bonus Issue, 1:10 Stock Split: Small Cap FMCG Stock Hits Upper Circuit As Record Date Fixed

Small cap stock operating in FMCG sector, Sarveshwar Foods Ltd hit upper circuit on August 24, 2023 soon after the company fixed September 5, 2023 as the record date for 2:1 bonus issue and 1:10 stock split. Sarveshwar Foods shares offered shareholders return of 25% return in last 1-month and rallied 77% in last 3-months. Check details below:

Sarveshwar Foods Ltd Declares Record Date For Bonus Issue & Record Date: According to the BSE filing of Sarveshwar Foods Ltd dated August 24, 2023, "In terms of Regulation 42 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform you that pursuant to the shareholders' approval obtained in the Extra-ordinary General Meeting held on August 24, 2023, the Board of Directors vide resolution by circulation dated August 24, 2023 has fixed, Tuesday, September 05, 2023 as the "Record Date" for the purpose of;

a) Sub-division of face value of Equity Shares (all the Authorized, Issued, Subscribed and Paid-up Equity Shares of nominal value of Rs. 10/- (Rupees Ten Only) each shall stand sub-divided into 10 (Ten) Equity Shares of nominal value of Re. 1/-(One Rupee) each fully paid-up and;

b) 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: Last trading price of Sarveshwar Foods share is Rs 130.75 apiece with intraday gain 4.89%. Its 52-week high price is Rs 138.40 apiece and 52-week low price is Rs 62.60 apiece, respectively. The company has a market capitalisation of Rs 400.06 crore. The stock hit upper circuit on August 25 and August 21. In last 1-year, Sarveshwar Foods shares soared 138% and soared 932% in last 3-years.

Sarveshwar Foods Ltd: The company for the quarter ended June 30, 2023 announced its consolidated total income at Rs 189.24 crore, up 44.83% as compared to its last quarter total income of Rs 130.66 crore. It announced its recent quarter net profit after tax at Rs 2.93 crore.

About: Sarveshwar Foods Limited Manufacturer of basmati rice & other products in Jammu, Jammu & Kashmir. It was originally incorporated as a private limited company in the name of Sarveshwar Overseas Private Limited on August 3 2004. Further, its name was changed to Sarveshwar Foods Limited on June 29 2015. It is engaged in the business of processing and marketing of branded and un-branded basmati and non-basmati rice in the domestic and international markets. The Operations of the company are based out of the Jammu Region in the State of Jammu and Kashmir.

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The stock just highlights the bonus issue, stock split 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.