GRM Overseas surges on launching new strategic platform `10X Ventures`
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GRM Overseas is currently trading at Rs. 264.95, up by 2.15 points or 0.82% from its previous closing of Rs. 262.80 on the BSE.
The scrip opened at Rs. 267.65 and has touched a high and low of Rs. 276.25 and Rs. 262.20 respectively. So far 33411 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 286.15 on 19-Aug-2024 and a 52 week low of Rs. 114.15 on 13-Mar-2024.
Last one week high and low of the scrip stood at Rs. 286.15 and Rs. 250.25 respectively. The current market cap of the company is Rs. 1606.20 crore.
The promoters holding in the company stood at 72.29%, while Institutions and Non-Institutions held 0.67% and 27.04% respectively.
GRM Overseas has launched its new strategic platform, 10X Ventures. This innovative platform is poised to drive growth by investing in Digital-First New Age D2C brands, Lifestyle brands, smaller portfolio brands, and incubator opportunities. 10X Ventures will capitalize on GRM's expansive infrastructure and entrepreneurial spirit to bolster net sales and margin growth.
10X Ventures will leverage GRM’s robust teams, including marketing, distribution, sales, and supply chain, to rejuvenate its brands. Embracing an entrepreneurial mindset, these teams will treat each brand as a startup, focusing on quick innovation in concepts, product lines, and categories. This approach will enable GRM to rapidly adapt to market dynamics and consumer preferences.
GRM Overseas is presently engaged in the business of processing and sale of rice.
