Gopal Snacks gains on expanding distributor network
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Gopal Snacks is currently trading at Rs. 341.45, up by 2.80 points or 0.83% from its previous closing of Rs. 338.65 on the BSE.
The scrip opened at Rs. 334.05 and has touched a high and low of Rs. 342.20 and Rs. 334.05 respectively. So far 3672 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 1 has touched a 52 week high of Rs. 392.70 on 15-Mar-2024 and a 52 week low of Rs. 300.95 on 04-Jun-2024.
Last one week high and low of the scrip stood at Rs. 348.70 and Rs. 334.05 respectively. The current market cap of the company is Rs. 4246.52 crore.
The promoters holding in the company stood at 81.49%, while Institutions and Non-Institutions held 9.04% and 9.47% respectively.
Gopal Snacks has expanded its distribution network and successfully added over 110 new distributors in the past five months. This development increases the company’s total distributor base to 785, significantly enhancing its retail touchpoints across various regions.
This growth strategy includes a concentrated effort in its focus states, where 89 new distributors have been added, bringing the total number of distributors in these markets to 399. By strengthening its presence in these key areas, the company aims to achieve deeper market penetration, enhance brand visibility, and capture a larger market share. This strategic expansion is crucial to enhancing product accessibility and reinforcing its commitment to increasing brand awareness.
In addition to expanding in focus states, the company has also extended its reach in other regions by adding 25 new distributors. This brings the total number of distributors in these states to 100. This strategic move is to facilitate entry into previously untapped markets and broaden its geographical footprint. By establishing a stronger presence in these new territories, Gopal Snacks is positioning itself to capitalize on emerging opportunities and drive growth across a wider array of markets.
Gopal Snacks is an FMCG company that deals in ethnic and Western snacks, and other products in India and internationally.c
