Small-cap below ₹20: Multibagger penny stock Sarveshwar Foods jumps 5% on this order book update
- Small-cap below ₹20: Multibagger penny stock Sarveshwar Foods gained almost 7% in the morning trades on Friday. The gains in the share price followed an order book update
Small-cap below ₹20: Multibagger penny stock Sarveshwar Foods jumps almost 7% on a order book update
Sarveshwar Foods share price opened at ₹10 on the BSE on Friday, about 1.3% higher than the previous closing price of ₹9.87. The Sarveshwar Foods share price thereafter gained further to intraday highs of ₹10.50, rising up to 6.8%
Sarveshwar Foods share price though is down significantly from 52 week or 1 year highs seen in February, however has gained well from 52 week lows seen in August. The Sarveshwar Foods share price has gained more than two folds or more than 200% from 52 week lows of ₹4.50 in August 2024
Sarveshwar Foods in its Press Release release on the exchanges on 6 December 2024, said that it has secured Export Order for 5,350 MT of Basmati Rice valued approximately at ₹498 Million from I SIFOL LLC, USA.
Established in 2008 in New York, I SIFOL LLC is a renowned brand representative and distributor committed to excellence and having a robust national distribution network across the USA. I SIFOL reaches over 1,000 ethnic retail outlets and 1,500 ethnic restaurants across the United States.
Sarveshwar Foods Limited that has emerged as I SIFOL LLC's top-rated supplier, continuously securing repeat orders , is among India’skey suppliers of premium Basmati rice. It thereby has successfully secured an export order to supply 5,350 Metric Tons (MT) of Basmati Rice, valued at $ 5.84 million (approximately ₹498 million) from I SIFOL LLC, one of the USA’s largest and prestigious entity having large network in retail stores, restaurants, and supermarkets.
Commenting on the achievement, a spokesperson from Sarveshwar Foods said, “We are thrilled to have secured this major export order with I SIFOL LLC. This order underscores the trust and confidence I SIFOL places in Sarveshwar Foods, driven by our dedication to maintaining the highest standards of quality and service"
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