This rice exporter gained 434 per cent YTD; is there still some steam left in the stock?
GRM Overseas is one of largest basmati rice exporter to the world and second largest to the Middle East. Company exports high quality traditional basmati varieties of rice to US, UK and other European countries. Furthermore, the stock is leading exporter to countries likes Saudi Arabia, Iran and Dubai.
Company’s range of products includes 7 Express, Jaipur Iconic Basmati, Himalaya Premium Basmati Rice, Himalaya River (Blue).
The stock is up by 434 per cent on YTD basis and in the last one year the stock has skyrocketed from levels of Rs 114.90 to Rs 1,017.15 as a result it jumped 785 per cent. Interestingly, the stock has touched fresh record highs on Monday.
The stock is meeting most of the CANSLIM characteristics. Interestingly, the stock is also meeting the Warren Buffet rules of investing.
On Monday, the stock has closed up by 3.88 per cent on BSE at Rs 1,107.15. The company published a press release wherein it has mentioned that a subsidiary of the company GRM Foodkraft Private Limited has signed a Memorandum of Understanding (MOU) with Spencer’s Retail for placing its products in Spencer’s stores.