Small-cap stock below ₹20: Nomura Singapore raises stake in FMCG share. Do you own?
Small-cap stock below ₹20: Nomura Singapore ODI has raised its stake in India's FMCG company Mishtann Foods Ltd. As per the exchange filing by the small-cap stock, Singapore-based foreign institutional investor (FII) has raised its stake from 1.28 per cent to over 2 per cent. The FMCG company informed Indian stock market bourses that the FII was holding 1,28,25,854 Mishtann Foods shares which has now gone to 2,18,82,762 company shares, which is 2.19 per cent of total paid up capital of the company.
Informing Indian bourses about stake raise by Singapore-based FII, Mishtann Foods Ltd said, "Mishtann Foods Ltd. (BSE: 539594) is one of India's leading FMCG company with primary focus on various types of Basmati rice. Nomura Singapore Ltd.
ODI increases its shareholding to over 2% of total share capital. Nomura Singapore Ltd. ODI has hiked its stake in Mishtann Foods Ltd.
from 1.28% (12825854 shares) to 2.19% (21882762 shares)." In Q4FY23, Mishtann Foods Ltd had informed Indian exchanges that Nomura Singapore had bought fresh stake in the company and raised its stake to 1.28 per cent of total paid up capital of the company. This means, Nomura Singapore is bullish on the FMCG stock that has delivered whopping return in post-Covid rally. This FMCG stock has risen from around ₹2.45 apiece levels to ₹14 apiece levels on BSE, delivering over 450 per cent return to its positional shareholders in last three years.
Mishtann Foods claimed that EBITDA increased by 4.57 per cent from ₹22.33 crore in Q4 FY22 to ₹23.35 crore in Q4 FY23. EBITDA margins decreased from 14.55 per cent in Q4 FY22 to 13.82 per cent in Q4 FY23 by 73 bps. The company's PAT increased by 7.45 per cent from ₹13.15 crore in Q4 FY22 to ₹14.13 crore in Q4 FY23.
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