GRM Overseas share price jumps 7% as it ropes in Salman Khan as brand ambassador; Smallcap stock up 40% in one month

GRM Overseas share price spiked over 7% after the company roped in Bollywood star Salman Khan as the brand ambassador for its basmati rice and wheat flour (Atta). The products of the company are sold under the brand name 10X.

“We found Salman Khan’s mass appeal and fanbase to be a perfect match for our 10X brand range of Basmati Rice and 10x Shakti range of Wheat Flour (Atta),” said Atul Garg, Managing Director of GRM Overseas.

The company’s contract with Salman Khan is for two years. By partnering with the Bollywood actor, GRM is set to leverage his iconic status to further strengthen its brand presence and connect with millions of consumers globally, the company said.

GRM Overseas Share Price

GRM Overseas share price rallied as much as 6.77% to ₹274.90 apiece on the BSE Wednesday. The smallcap stock hit a 52-week high of ₹286.15 on August 19, 2024. GRM Overseas shares have gained over 40% in the past one month. The company commands a market capitalisation of around ₹1,580 crore.

The smallcap stock bottomed out at around ₹115 apiece in the mid-March 2024. At current market price at around ₹260 per share, the FMCG stock has delivered more than 126% returns in the last five months. Hence, GRM Overseas shares are one of the multibagger stocks in the Indian stock market.

The 52-week high of the GRM Overseas shares is ₹286.15, while its 52-week low is ₹114.15 apiece on BSE.

GRM Overseas Q1 Results

GRM Overseas reported a consolidated net profit of ₹18 crore in the first quarter of FY25 as against ₹17.4 crore in the same quarter of the previous fiscal year. The company’s revenue from operations in Q1FY25 grew 15% to ₹370 crore from ₹320 crore, year-on-year (YoY).  

At 2:25 pm, GRM Overseas shares were trading 2.16% higher at ₹263.00 apiece on the BSE.

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