Shares of this micro-cap stock under Rs 10 jumped 4 percent in Tuesday’s trading session after a Foreign Portfolio Investor (FPI) sold 55 lakh shares of the company via a Bulk Deal.
With a market capitalization of Rs 598.06 crores, the stocks of Sarveshwar Foods Limited started their trading session on Tuesday at Rs 6.07 and currently trades at Rs 6.11, gaining approximately 4 percent as compared to the previous closing levels of Rs 5.87 apiece.
As per the Bulk Deal data available with the National Stock Exchange (NSE) as of 1st January 2024, AG Dynamic Funds Limited, an existing Foreign Portfolio Investor (FPI) of the company, sold 55 lakh shares at an average trade price of Rs 5.94 per equity share.
As per the shareholding pattern data available for the quarter ended September 2023, AG Dynamic Funds Limited held 2.17 crore equity shares of Sarveshwar Foods Limited.
During the recent financial quarters, the company reported an increase in both the business indicators such as operating revenues and after-tax profits. The former moved up from Rs 187 crores during Q1FY23-24 to Rs 205 crores during Q2FY23-24, and the latter, during the same period, doubled from Rs 2 crores to Rs 4 crores.
In addition, the company’s profitability metrics such as the return on equity (RoE) as well as the return on capital employed (RoCE) rose with the former taking a shift from 2.21 percent during FY21-22 to 3.64 percent during FY22-23, and, the latter, during the same horizon, moving up from 13.22 percent to 14.58 percent.
The latest shareholding data of the company portrays the Promoters holding a 54.91 percent stake, and the Foreign Institutional Investors (FIIs), recently increasing their stake, currently hold a 3.76 percent stake in the company.
Sarveshwar Foods Limited is engaged in the business of manufacturing as well as selling basmati and non-basmati rice in India under the brand name ‘Nimbark’. The company provides basmati brown rice, steamed rice, white parboiled rice, golden parboiled rice, etc.
Written by Amit Madnani
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