Penny Stock Below Rs 2 Becomes Volume Buzzer; Share Price Jumps Over 10%

On Tuesday, Indian markets traded on a positive note, with the Nifty 50 rising 0.87 per cent to 24,576.60, up 211.75 points from the previous close of 24,364.85. Amid this, NHC Foods' share price was trading at Rs 1.04, up 10.64 per cent from the previous close of Rs 0.94.

Trading activity remained elevated, with volumes at around 8.12 million shares compared to the 20-day average of 2.73 million shares. The stock movement follows the company’s announcement regarding a strategic international acquisition.

NHC Foods Acquires Hong Kong-Based Conquer Enterprises

NHC Foods Ltd announced that its wholly owned subsidiary, NHC International L.L.C-FZ (Dubai), has acquired 100 per cent of the paid-up share capital of Hong Kong-based Conquer Enterprises Limited. The acquisition became effective on March 11, 2026.

The total acquisition cost stood at USD 129,032. As part of the transaction, the subsidiary acquired one share from an existing shareholder and subscribed to 999,999 new equity shares at HKD 1 each through fresh allotment, resulting in full ownership of the entity.

NHC Foods Strategic Rationale and Business Expansion

The acquisition is aimed at strengthening the company’s global trading capabilities and expanding its presence across international markets. It also enables diversification into high-demand segments such as metals, steel, and agro commodities.

Conquer Enterprises Limited, incorporated in June 2022, operates in the trading of metals, steel products, and agro commodities. The company reported strong growth in turnover, increasing from USD 47.41 million in FY23 to USD 64.27 million in FY24, and further to USD 95.50 million in FY25.

With this acquisition, Conquer Enterprises becomes a foreign step-down subsidiary of NHC Foods. The company aims to leverage synergies in sourcing, distribution, and customer networks to support growth across geographies.

NHC Foods Financial Performance Update

The company reported strong growth in its recent financial performance. For Q3FY26, revenue increased by 76 per cent YoY to Rs 129.20 crore, while profit after Tax rose by 27 per cent to Rs 2.64 crore.

For the nine months ended December 2025, revenue from operations increased by 61 per cent YoY to Rs 342.90 crore, while profit after tax stood at Rs 5.66 crore.

NHC Foods Fundraising Plan

Shareholders approved a fund-raising plan of up to USD 27 million (approximately Rs 225 crore) through a postal ballot on March 19, 2026. The funds are proposed to be raised through equity or equity-linked instruments, including FCCBs, warrants, debentures, or other permissible securities, in one or more tranches. The company stated that the transaction is not a related party transaction, and none of the promoters or group entities have any interest in the acquired company.

NHC Foods Management Commentary

Commenting on the development, Mr Satyam Joshi, Managing Director, NHC Foods Ltd, stated that the acquisition is expected to open new avenues for growth, expand market reach, and strengthen the company’s position in the global commodities trading ecosystem.

About NHC Foods

NHC Foods Ltd is engaged in the trading of agro and commodity products, along with food processing activities. The company operates across domestic and international markets, focusing on building a diversified trading platform across multiple product categories.

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Disclaimer: This article is for informational purposes only and not investment advice.