Home / Markets / Stock Markets /  Promoter raises stake in small-cap stock that surged 500% in 4 years. Do you own?

Promoter of the small-cap company Mishtann Foods Ltd has raised his stake in the company that has given multibagger returns in last few years. As per the company's disclosure available on the BSE website, Hiteshkumar Gaurishankar Patel, who is Promoter & Director at Mishtann Foods Ltd, has bought 2 lakh fresh shares of the company from the open market. He bought these shares on 15th November 2022 in an open market deal worth 18,18,032. This means, the small-cap company's Promoter & Director bought these shares at an average price of 9.09 per equity share [ 18,18,032 / 2,00,000].

After acquisition of these 2 lakh company shares, shareholding of Hiteshkumar Gaurishankar Patel has gone up to 49.30 per cent of total paid up capital of this FMCG company. Prior to this open market share acquisition, Hiteshkumar Gaurishankar Patel's shareholding in the company was at 49.28 per cent. This means Hiteshkumar Gaurishankar Patel's shareholding has gone up by 0.02 per cent after acquisition of 2 lakh fresh shares of the company.

Mishtann Foods share price history

After climbing to its 52-week high in January 2022, Mishtann Foods share price has remained under profit-booking heat. However, the stock has delivered stellar return in post-Covid rally by rising from around 2.50 apiece levels to 9 per share levels, delivering to the tune of near 250 per cent return to its shareholders in last 30 months. In last four years, this stock has surged from around 1.50 to 9 per share levels, giving near 500 per cent return to its long term investors.

The BSE listed small-cap stock has current market cap of 446 crore and its current trade volume is 12.93 lakh and around two hours of trade is still left today. The stock has made 52-week low of 7.80 and its 52-week high is 19.55 per share. The book value per share of this FMCG stock is little over 1 and its dividend yield is 0.07.


Asit Manohar

Chief Content Producer at Live Mint Digital Team
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