GRM Overseas touches upper circuit post signing deal with Walmart
GRM Foodkraft Pvt Ltd, a subsidiary of GRM Overseas Ltd and one of India’s leading basmati rice exporters, announced this afternoon that it has collaborated with Walmart India Pvt Ltd and has signed an agreement to place its products in Walmart stores.
The company’s products will be made available in Walmart stores present in tier 1 and tier 2 cities, starting from this month.
The agreement will strengthen GRM’s presence in the domestic market. The company expects this collaboration to help propel its growth and market share in the coming years. Given the stringent pre-requisites demanded by Walmart from its vendors and suppliers, this collaboration is a significant breakthrough for the company. These pre-requisites demand includes good-quality products, which must be in compliance with domestic requirements & regulations.
The company’s association with Walmart demonstrates its strong customer relationship and effective marketing capabilities in domestic as well as the export market. It strives to make such collaborations like this one with top grocery retailers/chains in the domestic & international markets in the future. The company will continue to focus on diversifying from private label basmati rice offerings to high margin own brands, specialised and value-added products, adding value through products differentiation.
At 2 pm, the share price of GRM Overseas Ltd touched an upper circuit of Rs 1,950.90 on BSE