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The current market conditions are not investor friendly as major blue-chip stocks have hit record lows. TCS, India's second-largest company by market cap, has registered a decline of 11.5% since the beginning of 2022. However, Kohinoor Foods Ltd. has shown record growth in the past two months, surging 420% since early April !!
Kohinoor foods was established in 1989. It provides a wide assortment of food products, including Basmati Rice, Wheat Flour, Ready to Eat Curries & Meals, Simmer Sauces, Cooking Pastes to Spices, Seasonings, and Frozen Food. They have also expanded their product basket to Pure Ghee, Paneer, Ready Mixes, Namkeens & Sweets. The company has several achievements, adheres to several quality commitments, and its products are present in 65+ countries.
The Kohinoor premium rice brand initially belonged to Kohinoor foods, but it was subsequently purchased by McCormick alongside other trademarks in 2017, only to be purchased by the Adani Group in May 2022.
The stock of Kohinoor Foods had been placed on a trade suspension on 3rd May 2021 due to non-compliance with the requirements of Regulation 17(1) as per SEBI (LODR) Regulation, 2015, relating to the composition of the Board of Directors. It resumed trading on 6th April 2022, almost a year later where it continued trading in the "T" Group in BSE and "BE" Category in BSE.
The stock resumed trade on 6th April 2022, where it opened 4.7% higher and stayed at a price of Rs 7.75 per share throughout the day and closed at the same. Following this, the stock kept jumping 5% everyday after that as the stock continued this trend for 36 consecutive days, including today.
Today, the share opened and closed at Rs 40.30 per share, resulting in a gain of 420% ever since its trade suspension was revoked.
Article by Aman Agarwal.
This news piece is brought to you in association with jobaaj.com
