Stock market today: Shares of small-cap stock, GRM Overseas, engaged in milling, processing and marketing branded and non-branded basmati rice, surged over 8% in trade on Monday, March 10, defying the weak stock market trend. The gains came after the company announced a new campaign wherein the company roped in Bollywood celebrity Salman Khan.
GRM Overseas, as part of its initiative to transform the wheat flour market, with its campaign for 10X Classic Chakki Fresh Atta, has appointed Salman Khan as the Brand Ambassador.
Atul Garg, Managing Director of GRM Overseas, said: “We are excited to announce the launch of an ambitious campaign for 10X Classic Chakki Fresh Atta, with the support of our new Brand Ambassador, Salman Khan. As one of the leading FMCG companies in India, we recognize the importance of innovation and quality in driving the industry forward, especially in the packaged staples market.”
“Our focus with this campaign is to encourage a significant shift in consumer behaviour and guide them towards making informed choices by choosing superior-quality, hygienic, and nutritious branded packaged products. We believe that this campaign is not just about offering a product, but about promoting a lifestyle that prioritizes well-being and health,” said Garg.
Garg, added, “We are thrilled to embark on this journey with Salman Khan, a figure who embodies the spirit of our brand – trustworthy, reliable, and a symbol of outstanding quality, and are confident that the new campaign will elevate the brand’s mass appeal further.”
The packaged atta market in India has good scope for growth, with the segment expected to grow at a 16% CAGR to reach $197 billion by 2030, as per industry reports. Increasing urbanisation, a rising middle-class population, and a growing emphasis on health and convenience among consumers are key factors that are expected to drive the growth.
Stock Price Trend
The small-cap stock, engaged in the FMCG sector, rallied 8.11 per cent to ₹269.90 even as the BSE Sensex dropped over 200 points in trade today. The stock settled the day 3.14% higher at ₹257.50.
GRM Overseas share price has delivered multibagger returns to its investors, rallying 2467% in the past five years.
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