Sarveshwar Foods zooms on initiating partnerships with NBFCs to extend financial support to associated farmers
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Sarveshwar Foods is currently trading at Rs. 10.64, up by 0.96 points or 9.92% from its previous closing of Rs. 9.68 on the BSE.
The scrip opened at Rs. 10.63 and has touched a high and low of Rs. 10.64 and Rs. 10.12 respectively. So far 7854638 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 1 has touched a 52 week high of Rs. 15.73 on 28-Feb-2024 and a 52 week low of Rs. 4.03 on 30-Oct-2023.
Last one week high and low of the scrip stood at Rs. 10.64 and Rs. 8.45 respectively. The current market cap of the company is Rs. 1041.46 crore.
The promoters holding in the company stood at 54.91%, while Non-Institutions held 45.08% stake in the company.
Sarveshwar Foods has initiated strategic partnerships with certain Non-Banking Financial Companies (NBFCs) to enhance financial support for farmers -who are the backbone of the company’s supply chain- and drive improvements within the agricultural sector.
Drawing on a rich history of commitment to quality and community, Sarveshwar Foods recognizes the vital role that farmers play in its operations. These new collaborations are aimed at providing essential financial resources, enabling farmers to invest in modern agricultural practices and infrastructure. Through these partnerships, Sarveshwar Foods seeks to fortify the agricultural ecosystem and ensure the stability and growth of its supply chain.
Under the proposed arrangement, Sarveshwar Foods will facilitate the connection between NBFCs and farmers. The financing arrangements will be conducted directly between the NBFCs and the farmers, with no recourse to the company. These partnerships would be the vital part of Sarveshwar Foods’ long-term strategy to strengthen its supply chain and ensure continuous and uninterrupted supplies.
Sarveshwar Foods is engaged in the business of processing and marketing of branded and un-branded basmati and non-basmati rice in the domestic and international markets.
