NHC Foods Ltd has announced a stock split where each existing equity share with a face value of Rs 10 will be subdivided into 10 shares with a face value of Re 1 each. Shareholders will receive 10 new shares for every 1 share they currently hold, with the same rights as the existing ones. The split was approved by shareholders through a postal ballot on June 30, 2024, and the record date for eligibility for the split shares is set for Monday, July 22, 2024. After the split, the total number of outstanding shares will increase to 1,85,50,000 with a face value of Re 1 each.
Established in 1960, NHC Foods Ltd is a manufacturer and exporter of whole and blended spices. They are ISO and HACCP certified, supplying ground spices and blends to major multinational food companies and fast-food chains worldwide. The company also has a packaging unit that customizes flexible packaging for clients. NHC Foods employs a strategic stock and sale approach for specific spices and grains and has recently expanded their grain offerings by adding rice to their product line.
In recent trading, shares of NHC Foods Ltd gained 3.77 per cent to Rs 51.70 from its previous closing of Rs 49.82 per share. The stock’s 52-week high is Rs 52.99 while its 52-week low is Rs 32.20, with a market cap of Rs 60 crore. The promoter of the company sold 1,69,500 shares, decreasing the total promoters holding to 40.82 per cent in March 2024. The stock has seen significant growth, up by 60 per cent from its 52-week low and providing multibagger returns of over 450 per cent in 3 years.
Investors should keep an eye on this micro-cap stock. It’s important to note that this article is for informational purposes only and not investment advice.