Penny stock under 10 rupees NHC Foods share price gained 5% in intra-day deals on Tuesday, September 29, despite weak trends on Dalal Street.
The stock rose around 5% to its day’s high of ₹1.75 per share on BSE. It was also in focus after the company announced a massive increase in its authorised share capital, with shareholders approving a 20-fold jump at the company’s 34th Annual General Meeting held on September 25, 2026.
Meanwhile, benchmark Nifty touched an intraday low of 21,064, taking its two-session decline to around 571 points. The BSE Sensex, meanwhile, plunged more than 1,800 points across the two sessions, touching an intraday low of 72,064.
Stock price trend
The penny stock had hit its 52-week high of ₹2.84 earlier this month on 4 September and its 52-week low of ₹0.59 in March 2026.
While the stock has lost 13% in 1 week and 23% in 1 month, it has risen 64% in 3 months and given multibagger 159% returns in 6 months. In the last 1 year, it added 64%.
Big corporate update
The company disclosed the development in a regulatory filing dated September 27, stating that shareholders had approved an increase in the existing authorised share capital from ₹100 crore to ₹2,000 crore. The authorised capital will comprise 20,00,00,00,000 equity shares of Re 1 each, compared with the existing 100,00,00,000 equity shares of Re 1 each.
“This is to inform you that the Shareholders at the 34th Annual General Meeting held on September 25, 2026 approved the Increase in existing Authorised Share Capital from Rs. 100,00,00,000/- (Rupees Hundred Crores) divided into 100,00,00,000 equity shares of Re. 1/- each to Rs. 20,00,00,00,000/- (Rupees Two Thousand Crores) divided into 20,00,00,00,000 equity shares of Re. 1/- each,” it said in an exchange filing.
The approval was received at the company’s 34th AGM held on September 25, 2026.
According to the filing, NHC Foods’ existing authorised share capital stood at ₹100 crore, divided into 100 crore equity shares of Re 1 each.
Following shareholder approval, the authorised share capital has been increased to ₹2,000 crore, divided into 2,000 crore equity shares of Re 1 each. This represents a 20-fold increase in the company’s authorised share capital.
Other recent developments
Earlier this month, NHC Foods Limited announced plans to acquire controlling stakes in two food and beverage companies — Lotmor Brands Private Limited and Walya’s Beverages Private Limited.
The company, which is engaged in the trading, processing and export of agricultural commodities, said its board had approved investments to acquire up to an 88% stake in Lotmor Brands and up to an 80% stake in Walya’s Beverages.
Under the proposed transactions, the consideration could be paid in cash or through the issue of NHC Foods equity shares at ₹6.50 per share. The price could also be determined after six months in accordance with SEBI ICDR Regulations.
NHC Foods said the proposed acquisitions were aimed at strengthening its procurement and distribution capabilities while complementing its existing operations across the food and beverage value chain.
Disclaimer: This story is for educational purposes only. Please consult with an investment advisor before making any investment decisions.
