FMCG stock GRM Overseas that has surged 100% in YTD edges higher after this business update

GRM Overseas share price rose over 2% to touch a 52-week high on Monday's session following the company's agreement with Seven Star Company Limited, Riyadh, Kingdom of Saudi Arabia, for the distribution of its flagship basmati rice brand "10X" throughout the Saudi Arabian market.

Seven Star Company Limited will use its extensive distribution and retail network throughout the region to distribute GRM's "10X" basmati rice in a variety of pack sizes as part of this strategic partnership. This collaboration represents a major advancement in GRM's continuous attempts to increase its market share globally, especially in the Middle East.

“We are delighted to partner with Seven Star Company Limited to expand our brand ‘10X’ in Saudi Arabia. Their strong market presence and distribution capabilities will help us reach a wider consumer base and further strengthen our global footprint. This collaboration aligns with our vision to make GRM’s premium products available across key global markets,” said Atul Garg, Chairman & Managing Director, GRM Overseas Ltd.

GRM Overseas share price today

GRM Overseas share price today opened at ₹401.55 apiece on the BSE, the stock touched an intraday high of ₹409.65 apiece and an intraday low of ₹399.20 per share. On a year-to-date (YTD) basis, GRM Overseas share price has gained 103.07% turning into a multibagger stock.

Anshul Jain, Head of Research at Lakshmishree said that GRM Overseas is forming a massive 699-day (147-week) long IPO base, indicating a prolonged phase of accumulation and consolidation.

Jain highlighted that a move above ₹420 will act as a preemptive breakout, while a sustained breach above ₹450 will confirm a major structural breakout on the charts. The presence of accumulative volumes throughout the base formation signals strong institutional participation and interest. If the breakout sustains above these levels, the stock is well-positioned to rally towards ₹700, supported by the long-term bullish setup and alignment of key moving averages.

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