GRM Overseas Managing Director Atul Garg said Khan’s mass appeal and fan base align with the company’s 10X brand range of basmati rice and 10x Shakti range of wheat flour.
Stock market news: The value of basmati rice exporting company, GRM Overseas, rose noticeably by over 12 percent this Monday. Initial trading began with a figure of Rs 260.75 at BSE, a marked improvement from the last closing rate of Rs 255.60. Furthermore, it achieved an intra-day highlight of Rs 287, tallying a gain that was about 12.28 percent at BSE. The 52-week assessment reveals a peak at Rs 288.60 and a low of Rs 114.15. Amid the last 48 hours, the stock’s value has markedly bloomed by 10.45 percent.
The surge in share price comes as the market rebounded in early trade on Monday, with the Nifty hitting a fresh all-time high level, amid foreign fund inflows and a rally in the US markets. Earlier, the company appointed Bollywood actor Salman Khan as its brand ambassador for basmati rice and wheat flour.
GRM Overseas Managing Director Atul Garg said Khan’s mass appeal and fan base align with the company’s 10X brand range of basmati rice and 10x Shakti range of wheat flour.
“I’m excited to partner with GRM, a brand that shares my belief in the importance of quality and authenticity,” Khan said in a statement. The partnership aims to leverage Khan’s iconic status to strengthen GRM’s brand presence and connect with consumers globally, the company said.
Founded in 1974, GRM Overseas exports premium basmati rice to over 42 countries and has expanded from a rice manufacturing and trading house to a consumer staples organization. The company said it plans to use Khan’s influence to inspire consumers to make healthier food choices and join a movement prioritising sustainability and empowerment. GRM Overseas is listed on both National Stock Exchange and Bombay Stock Exchange.