GRM Foodkraft Pvt. Ltd has partnered with JioMart

GRM Overseas Limited, one of India'sleading basmatirice exporters, has announced that its subsidiary GRM Foodkraft Pvt. Ltd (hereinafter referred to as "GRM" or the "Company") has entered into a Memorandum of Understanding (MOU) with Reliance Retail Limited (JioMart) to place its Products in Reliance Stores. GRM Products will be available in 45 Distribution Centers of Reliance Retail Limited (JioMart) across the country, under B2B category.

The partnership with Reliance Retail Limited (JioMart) will further strengthen GRM presence and maximize its reach in domestic market and is expected to drive the top line growth and market share in the coming years. This is an important breakthrough for GRM since Reliance Retail Limited (JioMart) has very stringent pre-qualification requirements for approval of its suppliers / vendors for purchasing any Products. In order to get vendor approval from Reliance Retail Limited (JioMart), the Products must demonstrate the requisite quality and safety standard and must be in compliance with domestic requirements and regulations.

GRM's association with Reliance Retail Limited (JioMart) under B2B category is a testament to Company's strong customer relationship as well as effective marketing capabilities in domestic as well as export market. Further, GRM strive towards more wins like these with top grocery retailers / chains in the domestic and international markets in future.

Going forward, GRM will continue to focus on diversifying from private label basmati rice offerings to high margin own brands, specialized and value-added Products, and adding value through Products differentiation. Taking the momentum forward with a clear strategy in mind, GRM is poised to enter into a new era of growth and to create maximum value for all our stakeholders.

Shares of GRM OVERSEAS LTD. was last trading in BSE at Rs.2345.8 as compared to the previous close of Rs. 2234.1. The total number of shares traded during the day was 5010 in over 465 trades.

The stock hit an intraday high of Rs. 2345.8 and intraday low of 2235. The net turnover during the day was Rs. 11575109.

Source : Equity Bulls

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