Sarveshwar Foods Ltd, a small-cap stock in the Fast-Moving Consumer Goods (FMCG) sector, witnessed a rapid surge of up to 10% on Wednesday. The company’s shares reached a record high of ₹7.12, marking a 52-week high. Over the past five days, the company’s shares have risen by 20%. This increase is attributed to the recent recognition by the Agricultural and Processed Food Products Export Development Authority (APEDA), under the Ministry of Commerce and Industry, Government of India. Sarveshwar Foods Limited received the first-ever Geographical Indication (GI) tag for Basmati rice in the Jammu and Kashmir region, making it the sole company in the area with a GI tag for exporting Basmati rice.
APEDA granted the GI tag after thorough verification of the company’s records, product quality, characteristics, origin, and the processing procedures applied by Sarveshwar Foods. This accolade empowers the company to display the GI tag on its packaging for export purposes. Notably, in 2023, the company announced a bonus share issuance in a 2:1 ratio and a stock split in a 1:10 ratio, which was traded on the ex-date.
Current Status of the Company’s Shares:
Current share price: ₹7.12 per share
52-week high: ₹7.12 per share
52-week low: ₹2.07 per share
Market capitalization: ₹696.92 crores
Recent two-week increase: 10%
One-month increase: 27%
Year-to-date return: 64%
(Note: This information is not financial advice. It provides details about share performance and expert opinions. Before investing, consider using your own judgment.)
Sarveshwar Foods Ltd has gained significant momentum, with its shares reaching a record high of ₹7.12 and experiencing a notable 20% increase over the last five days. The surge is linked to the company being awarded the first-ever Geographical Indication (GI) tag for Basmati rice in Jammu and Kashmir by the Agricultural and Processed Food Products Export Development Authority (APEDA). This recognition allows Sarveshwar Foods to distinguish its Basmati rice for export with the prestigious GI tag.
The recent boost in share value is also influenced by the company’s strategic decisions, such as a bonus share issuance and a stock split in 2023. With a current market capitalization of ₹696.92 crores, Sarveshwar Foods demonstrates a strong performance, having achieved a remarkable 64% year-to-date return on shares.
Investors are closely watching the company’s trajectory, given its unique position as the only entity in the Jammu and Kashmir region with a GI tag for Basmati rice exports. The significance of this recognition by APEDA adds a positive outlook to Sarveshwar Foods Ltd’s future prospects in the FMCG sector.