Multibagger penny stock: The shares of Kohinoor Foods (Kohinoor Foods Ltd) are seeing tremendous growth. Kohinoor Foods stock has hit upper circuit today. The company’s shares are trading at Rs 21.30 with a gain of about 5%. This is the 52-week high share price of the company. The stock has seen a gain of 21.02% in the last five trading sessions. In the last one month, the stock rose from Rs 7.77 to Rs 21.30. During this, investors have got a return of 167% (Multibagger stock return). That is, the investment of Rs 1 lakh became Rs 2.74 lakh in 22 business days. In fact, this rise in shares is being seen after the name of Adani Group was associated with Kohinoor Foods.
Know the reason for the increase in the price of shares
Adani Wilmar Limited (AWL) has recently announced the acquisition of several brands including the legendary Kohinoor brand from McCormick Switzerland GmbH. With this acquisition, AWL will get exclusive rights to Kohinoor Basmati Rice brand in India along with ready-to-cook, ready-to-eat, curry and food portfolios under the Kohinoor brand, the company said in a statement. Kohinoor’s domestic brand portfolio will strengthen AWL’s position in the FMCG category. This acquisition will allow AWL to offer more products in the rice and other food businesses.
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The business of Kohinoor Foods is quite big
Kohinoor Foods is engaged in the business of manufacturing, trading and marketing of Food Products. The company is facilitating a massive supply chain to meet the needs of customers across the globe. Kohinoor Foods has a wide range of businesses ranging from different varieties of Basmati Rice, ready-to-eat curries, readymade gravies, cooking pastes, chutneys, spices and seasonings to frozen breads, snacks, healthy cereals, and edible oils.