Introduction:
Prominent Agri company has partnered with Vedant Starch to produce value-added maize products like starch, gluten, and germ. The 3-year agreement leverages a Maharashtra-based plant, targeting 2,000 tonnes monthly and generating an estimated ₹150 crore business volume.
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Share price movement of TBI Corn:
On December 5, 2024, TBI Corn Limited opened at ₹201.25, up 1.98% from its previous close of ₹197.35. The stock reached a high of ₹201.25 and traded at a low of ₹197.35. By 3:14 PM, it maintained a price of ₹201.25, with a total market cap of ₹365.44 crore.
TBI Corn Signs MoU with Vedant Starch:
TBI Corn Limited has signed an MoU with Vedant Starch Private Limited to process maize into value-added products like starch, gluten, and germ. Vedant’s Maharashtra-based plant will handle the operations under this three-year agreement.
Under this partnership, Vedant will process 2,000 metric tonnes of maize monthly for TBI Corn, generating an estimated business volume of ₹150 crores. TBI will provide raw materials and has committed a refundable ₹1 crore deposit to facilitate operations.
The collaboration outlines mutual growth opportunities, with potential for extension upon mutual consent. Both companies anticipate significant market advancements through this association. There are no related-party links, and the transaction is conducted at arm’s length, ensuring transparency.
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Ace investor holding in TBI Corn:
Ashish Kacholia
Prominent investor Ashish Kacholia holds a 4.22% stake in TBI Corn Limited, owning 766,666 shares valued at ₹15.1 crore. His significant investment highlights confidence in the company’s growth potential and market prospects.
Ankush Kedia
Investor Ankush Kedia holds a 1.10% stake in TBI Corn Limited, owning 200,400 shares valued at ₹4.0 crore. His investment underscores a strong belief in the company’s performance and future growth potential in the market.
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Stock performance of TBI Corn for Period of 1 week and 6 months:
TBI Corn Limited delivered an impressive 8.14% return over the past week, showcasing short-term growth momentum. However, its six-month performance reflects a 5.07% decline, indicating challenges in sustaining consistent long-term market gains.
Shareholding pattern of TBI Corn:
| All values in % | Sep 2024 | Jun 2024 |
| Promoter | 56.50% | 56.50% |
| FII | 1.60% | 4.90% |
| DII | 4.80% | 6.60% |
| Public | 37.10% | 32.00% |
About TBI Corn:
TBI Corn Ltd (NSE: TBICORN) is an ISO 22000:2018 certified manufacturer and exporter of GMO-free, chemical-free corn products. Established in 2000, the company sources premium raw maize from Northern Karnataka and Andhra Pradesh, key maize-producing regions in India.
Disclaimer: The above article is written for educational purposes, and the companies’ data mentioned in the article may change with respect to time The securities quoted are exemplary and are not recommendatory.
