Stock below 100: This small-cap FMCG stock announces 8 crore buy-back. Do you own it?
The company is a leading and consistent supplier of grapes and pomegranates from India to supermarkets mainly in Europe
Freshtrop Fruits Limited is engaged in the business of export of fresh fruits and vegetables to supermarket chains in the International and Domestic markets. The company is a leading and consistent supplier of grapes and pomegranates from India to supermarkets mainly in Europe. The company had supplied to demanding supermarkets such as ASDA, Tesco, Mark & Spencer, Migros and several others.
This Small-Cap company, with a market capitalization of Rs 102 crore, declared a maximum of Rs 8 crore buyback amount at a maximum price of Rs 115 per share. This maximum buyback size represents 9.89 per cent of the aggregate of the company’s paid-up share equity capital and free reserves. The maximum number of equity shares bought back would be 6,95,652.
Previously, the company had also announced a buyback at a price of Rs 79.20 for an aggregate consideration of Rs 3.6 crore, which commenced on February 10, 2021 and closed on July 5, 2021.
On Friday, the shares of Freshtrop Fruits closed today at Rs 92.90 apiece on the BSE, down by 2.54 per cent, witnessing some profit booking after the shares soared over 3.69 per cent on Thursday. The stock has given over 27 per cent returns in just one month and on YTD basis, the stock has fallen 20.67 per cent so far.
Keep a close eye on this trending FMCG small-cap stock.