Shares of this company rocketed as soon as salman joined!
bollywood and business have always been associated. In india, most companies' products are promoted by bollywood superstars. salman khan has now joined one such company. Shares of the company rocketed as soon as salman khan joined and its shares saw a rise of 8 percent in one day.
Which company is this?
On Monday, march 10, when the stock market was struggling with a decline, a small stock GRM Overseas surprised everyone. Shares of this company saw a rise of more than 8 percent. The reason behind this rise is being told that bollywood superstar salman khan is associated with it.
salman khan made brand ambassador
GRM Overseas, which is a big name in Basmati rice and other FMCG products, is now going to enter the flour market as well. The company has roped in salman khan as the brand ambassador for its new 10X Classic Chakki Fresh Atta campaign. Speaking to The Mint, Atul Garg, Managing Director, GRM Overseas, said that we are happy that we are launching such a big campaign for 10X Classic Chakki Fresh Atta and salman khan has become our brand ambassador.
The flour market is growing rapidly
The demand for packaged flour in india is constantly increasing. According to industry reports, this market can reach $197 billion by 2030, i.e. an annual growth of 16 percent. Three major reasons are being cited behind this, first the growing population in cities, second the increasing spending capacity of the middle class and third the increasing awareness about health and convenience.
How was the performance of the stock in the stock market?
The stock of GRM Overseas reached Rs 269.90 on Monday, i.e. it rose by 8.11 percent in a day. However, by the time the market closed, there was a slight decline in it and the stock closed at Rs 257.50 with a gain of 3.14 percent. This stock has given a strong return of 2467 percent in the last 5 years.
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