Sri Sri Ravi Shankar stock, share price below Rs 150: 20% UPPER CIRCUIT - Check key trigger
sri sri ravi shankar stock, share price below rs 150: 20% upper circuit - check key trigger
Sri Sri Ravi Shankar stock, share price below Rs 150: Shares of a nanocap company skyrocketed 20 per cent to hit the upper circuit at Rs 127.18 apiece on BSE in Monday's (June 24) session.
This took its market cap to Rs 81.86 crore from Rs 68.22 crore earlier. By the end of the session, 73,692 shares changed hands on the counter.
The company under discussion is Source Natural Foods & Herbal Supplements, founded by renowned spiritual guru Sri Sri Ravi Shankar. The company sells its products under te brand name Sri Sri Tattava. One of the most popular product by the company is Ojasvita health drink.
Upper Circuit Stock: Why this scrip had only buyers?
The surge in its share price came after the company announced that it seeks a pie of the fast growing green and clean energy space in India. The aforementioned company informed BSE in a filing dated June 18 that it wishes to explore business opportunities in the green energy space.
"The company wishes to explore business opportunities in the green and clean energy sector to play a significant role in this emerging space worldwide," the company said.
It mentioned in the filing that this proposal is subject to shareholder approval, for which the company will hold a board meet on June 26 to consider the matter.
"Consideration for the same, subject to the shareholders' and other approvals as may be required, the diversification of the business of the Company, into green and clean energy segment not limiting to Solar, Green Hydrogen, Wind, Bioenergy, Hydro-power and others, through acquisitions, mergers, strategic, technical, manufacturing, marketing tie-ups etc.," the company added.
Source Natural Foods & Herbal Supplements Share Price History
Source Natural Foods & Herbal Supplements' shares have appreciated over 33.54 per cent in the past one week and over 49.71 per cent in the past one month. Over one year, the nanocap scrip has delivered 36.75 per cent returns. However, it delievred a negative return of 22.45 per cent in the past three years.
Looking back further, the stock yielded a massive return of 1,117 per cent in the past 10 years, multiplying investors money by more than 12 times.
Source Natural Foods & Herbal Supplements: About Company
Established in 1998, Source Natural Foods & Herbal Supplements manufactures a comprehensive range of high-quality Ayurveda, Health & Dietary Supplements and Food products. In 2009, the company entered the fast-growing Ayurveda products market.
Spread over 1.3 acres, the company manufactures a diverse range of products including herbal supplements, personal care items, organic foods, and natural health remedies. The brand's product line includes popular items such as Amla Candy, Organic Virgin Coconut Oil, Chyawanprash, Tulasi Tablets, and Kasahari Cough Syrup.