Surveshwar Foods Delivers Cash Windfall for Shareholders as Stock Soars 10%!
In a major win for investors, small-cap FMCG stock Surveshwar Foods saw its shares skyrocket today. The company, which operates in the stock market’s penny stock segment, rallied significantly after announcing strategic partnerships with non-banking financial institutions to improve farmer financing. Surveshwar Foods’ share price surged 10% in today’s trading, reaching new heights.
With buyers flooding in and sellers scarce, the stock hit the upper circuit, locking in a 9.92% gain, and closing at ₹10.64. This marks an impressive 52-week high for the company, surpassing its previous high of ₹15.55. The stock, priced at just ₹10, has emerged as a multibagger, delivering a stunning 134% return over the past year.
In the short term, the stock has generated remarkable profits for its shareholders: 23% in the last week, 22% in the last month, and an astounding 1,492% over the past three years. Over a five-year span, investors have enjoyed a massive 1,258% gain, underscoring its multibagger status. Surveshwar Foods now boasts a market cap of ₹1,040 crore.
Surveshwar Foods Limited specializes in processing and marketing branded and unbranded basmati and other rice varieties, both in India and abroad. The company, headquartered in Jammu and certified by the US Food Promotion Commission, currently operates with a team of 35 employees and is eyeing further growth by the end of 2023.