Penny stock under ₹10: NHC Foods shares are one of those rare Indian stocks that have delivered stellar returns to their shareholders despite negative performance by the key benchmark indices in YTD. NHC Foods’ share price has skyrocketed by close to 170% in six months, while it has risen over 125% YTD. So, the penny stock under 10 rupees is one of the multibagger stocks that the Indian stock market has delivered in 2026. The FMCG stock is in the news after the announcement of business expansion. NHC Foods announced on Friday plans to expand its overseas business by tapping into opportunities in the African market.
Penny stock under 10 rupees | NHC Foods latest news
The penny stock under 10 rupees declared about the overseas business expansion in an exchange filing, saying, “We wish to inform you that NHC Foods (Liberia) Limited, the Company’s subsidiary/group entity in Liberia, has today, 9 September 2026, entered into binding Heads of Terms (“HOT”) with Liberia Special Economic Zone Development Company (“LSEZDC”) in relation to the proposed sub-lease and development of an industrial plot situated within the Monrovia Industrial Free Zone (Starbase), Bushrod Island, Monrovia, Republic of Liberia.”
The proposed project represents an important step in NHC Foods Limited’s international expansion strategy and is intended to establish the Company’s first food processing/manufacturing footprint in Liberia, with the initial facility to manufacture and process fruit juices and allied food and beverage products.
Penny stock under ₹10 to tap the African market
The proposed investment forms part of NHC Foods’ broader strategy to progressively establish its presence in international markets, particularly in Africa, which is a large, developing consumer market with a population of approximately 1.5 billion.
Liberia has been identified as a strategic entry point for NHC Foods into West Africa, given its location, access to Atlantic shipping routes, and participation in the Economic Community of West African States (ECOWAS).
Subject to applicable rules of origin, customs regulations, product registrations, regulatory approvals and other applicable requirements, the proposed Liberian manufacturing operation is intended to position NHC Foods to progressively access and develop markets across the wider ECOWAS region.
The Company believes that the demographic profile of Africa, increasing urbanisation, evolving consumer demand and climatic conditions across several West African markets provide a potentially attractive long-term opportunity for fruit juices, beverages and other food products. These factors will form part of the Company’s market-development strategy and are not intended to constitute projections or assurances regarding future sales or profitability.
Current status of the project
The project is presently at the development and pre-implementation stage.
Pursuant to the binding HOT, NHC Foods (Liberia) Limited has been granted access to the proposed project site for undertaking various pre-development activities, including:
1] Environmental and Social Impact Assessment (ESIA);
2] Geotechnical investigations and soil testing;
3] Architectural and engineering studies;
5] Topographical and cadastral surveys;
6] Utility assessments; and
7] Other studies and approvals required for development, financing and implementation of the project.
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