In this article we read about a Multibagger FMCG Penny Stock Below Rs 10 – Targeted African market. Market capital of the company is 756 cr, also this penny stock provides bonus & dividend to share holders.
The major FMCG firm in India, Mishtann Foods Limited (BSE Scrip Code: 539594), which specializes mostly in different varieties of Basmati rice, has revealed its plans to launch new goods for the local market. These include rock salt, crystal salt, and free-flow iodized salt. The business has also entered new markets, particularly North Eastern India. The business hopes that by making these wise decisions, its top line will increase.
A totally owned subsidiary called “Grow and Grub Nutrients FZ – LLC” had previously been established by the business in the United Arab Emirates. This subsidiary’s primary goal is to concentrate on international trade and discover undiscovered markets as the business expands across various geographic borders. Additionally, the business wants to profit from the rising demand for rice in the Middle East and Africa.
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FIIs: Nomura Singapore Ltd. ODI has expanded its holding throughout the course of the time to 1.28 percent (1,28,25,854 shares).
Market capitalization for Mishtan Foods is Rs 714 crore. The business has decreased its debt while producing solid profit growth of 80.5% CAGR over the previous five years.
The price of MFL shares today soared by 0.42 percent to Rs 7.13 a share, with a high of Rs 7.14 and a low of Rs 7.09. The company’s shares have a PE of 14.60 times, a ROE of 40%, and a ROCE of 39%.
In just two years, the stock generated multibagger returns of over 218,75%, while the BSE Small-cap Index increased by 29%. The corporation declared bonus shares in the ratio of 1:1 and a dividend of Rs 0.0010 per share for a face value of Rs 1 during the previous fiscal year. Keep this FMCG penny stock beneath your radar.
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