Penny stock under Re 1: NHC Foods share price has delivered multibagger returns of 426% over the past five years.(Image: Pixabay)NHC Foods share price jumped over 8% on Tuesday, extending its rally for the fourth consecutive trading session, after the company announced an acquisition by its foreign subsidiary. The penny stock rallied as much as 8.51% to ₹1.02 apiece on the BSE.
Agri commodity trading company NHC Foods announced that its wholly owned foreign subsidiary, NHC International L.L.C-FZ (Dubai, U.A.E.), has successfully acquired 100% of the paid-up share capital of Conquer Enterprises Limited, a Hong Kong-based trading company.
The total acquisition cost stood at $129,032, while the acquisition became effective on March 11, 2026.
“As part of the transaction, NHC International L.L.C-FZ acquired 1 ordinary 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 Conquer Enterprises Limited,” NHC Foods said in a release.
The acquisition is expected to enhance NHC Foods’ international trading capabilities, strengthen its presence in key global markets, and diversify its product portfolio across high-demand sectors such as metals, steel, and agro commodities, it added.
Conquer Enterprises Limited, incorporated on June 30, 2022, in Hong Kong, is engaged in the trading of a diverse portfolio of products, including metals, steel, and agro commodities. The company’s turnover rose from $47.41 million in FY23 to $64.27 million in FY24, and further to $95.50 million in FY25.
“The acquisition will open new avenues for growth and create long-term value for stakeholders by expanding market reach and strengthening the company’s position in the global commodities trading ecosystem. Company is progressing well on its long term growth roadmap. Improvement in business performance reflects the strength of our execution, with robust revenue growth driven by higher volumes and improved market reach,” said Satyam Joshi, Managing Director, NHC Foods Ltd.
NHC Foods share price jumped 33% in one month, and gained 12% on a year-to-date (YTD) basis. The penny stock has fallen 5% in six months, but gained 3% in one year. However, NHC Foods share price has delivered multibagger returns of 426% over the past five years.
At 1:05 PM, NHC Foods share price was trading 8.51% higher at ₹1.02 apiece on the BSE.
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