Back-to-Back Lower Circuits In This Multibagger Penny Stock Under Rs 5; Board Meeting Next Week For Business Expansion, Details Inside

The stock gave multibagger returns of 194 per cent from its 52-week low of Re 0.99 per share and a whopping 1,840 per cent in 5 years

On Thursday, shares of NHC Foods Ltd hit a 5 per cent lower circuit to Rs 2.91 per share from its previous closing of Rs 3.06 per share. The stock’s 52-week high is Rs 3.71 per share and its 52-week low is Re 0.99 per share.

The Board of Directors of NHC Foods Limited will convene on Friday, January 10, 2025. A key agenda item is a proposal to establish a Sesame Seeds Cleaning and Hulling Plant. This expansion will be thoroughly evaluated, considering market opportunities, project scope, investment needs, revenue potential, and regulatory compliance. The Board will review and approve this proposal, subject to necessary approvals and financial considerations.

Additionally, the Board will discuss the strategic revitalization of the "SAAZ" brand, launched in 2011. This includes expanding its reach through modern retail chains and online platforms like BigBasket and Swiggy. The Board will also review the budget, staffing requirements, and market expansion strategies for the "SAAZ" brand.

About the Company

NHC Foods (NHC) has been a trusted name in the industry since 1960 and is a three-star merchant export house and a leading exporter of premium agricultural commodities and spices. Renowned globally for its expertise in the merchant export of Spices, Food Grains, Oil Seeds, Pulses, and Dry Fruits. NHC proudly serves over 30 countries with its signature brands such as Indi Bite, Eat'mor, and Saaz. With a strong focus on technology upgrades, process improvements, and market diversification, NHC is strategically expanding its footprint both in India and new international markets.

Earlier, the shares of the company underwent a stock split where each existing equity share with a face value of Rs 10 will be subdivided into 10 shares with a face value of Re 1 each. This means shareholders will receive 10 new shares for every 1 share. The ex-date for the stock split was Monday, July 22, 2024.

The stock gave multibagger returns of 194 per cent from its 52-week low of Re 0.99 per share and a whopping 1,840 per cent in 5 years. Investors should keep an eye on this micro-cap stock.

Disclaimer: The article is for informational purposes only and not investment advice.