Sarveshwar Foods share price rallied over 3% on Wednesday after the company announced entering into an agreement with a German company for strategic technology transfer relating to advanced rice processing technologies. The penny stock surged as much as 3.27% to ₹7.88 apiece on the BSE.
Sarveshwar Foods has entered into a strategic Memorandum of Understanding (MoU) with a German technology company ‘Foodtech Solutions GmbH’ to bring in next-generation solutions for rice storage, preservation, and preparation.
The key highlights of the MoU includes CO₂-based storage system to preserve rice freshness without chemical preservatives, reusable cocoons for storage, reducing contamination and waste. It also includes smoke generator technology to create a premium smoky flavor, catering to international demand, Sarveshwar Foods said in a regulatory filing.
Moreover, it supports global expansion by enhancing product differentiation in Europe, the Middle East, and North America, the company added.
These technologies are set to strengthen Sarveshwar’s premium product portfolio while aligning with its long-term strategy of innovation, sustainability, and global competitiveness, the company statement said.
“As we expand our presence and capacity, these technologies will play a pivotal role in enhancing quality, boosting efficiency, and delivering unique product experiences to consumers worldwide. This is yet another step towards fueling our growth story and positioning Sarveshwar as a trusted global food brand,” said Rohit Gupta, Chairman of Sarveshwar Foods.
Sarveshwar Foods Share Price Performance
Sarveshwar Foods share price has gained 5% in one month and 8% in three months. The penny stock has rallied 30% in six months and has dropped 9% on a year-to-date (YTD) basis. Over the past one year, the small-cap stock has fallen 6%, while it has delivered a strong 86% returns in two years.
At 10:30 AM, Sarveshwar Foods share price was trading 0.92% higher at ₹7.70 apiece on the BSE.
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