Amidst the ongoing rally in the stock market on the first day of the trading week the shares of GRM Overseas Ltd a company engaged in the business of milling processing and marketing of branded/unbranded Basmati rice are witnessing a rise of more than 2 per cent today. As of 14:01 pm the stock was trading at Rs 406.10 up by 2.10 per cent or Rs 8.35 on BSE while on NSE the stock was trading at Rs 405.95 up by 1.84% or Rs 7.35. The action in stock comes as GRM Overseas in its latest exchange filing today announced that it has entered into an agreement with Seven Star Company Limited Riyadh Saudi Arabia to distribute GRMs flagship basmati rice brand 10X in Saudi Arabia. Under this strategic partnership Seven Star Company Limited will distribute GRMs 10X basmati rice in various pack sizes across the region through its strong distribution and retail network. The company stated that this partnership is a major step for GRM to strengthen its presence in international markets especially in the Middle East. According to the BSE Analytics the stock has delivered a solid return of 1853 per cent in five years but has only 9 per cent in three years. While it has jumped 105 per cent in two years and 81 per cent in 1 year. On a year-to-date basis the stock has zoomed 106 per cent. Meanwhile equity benchmark indices Sensex and Nifty jumped in early trade on Monday driven by buying in blue-chips Reliance Industries HDFC Bank and foreign fund inflows. A sharp rally in global markets also added to the markets optimism during the initial trade. The 30-share BSE Sensex jumped 704.37 points to 84656.56 in early trade. The 50-share NSE Nifty surged 216.35 points to 25926.20. In Asian markets South Koreas Kospi Japans Nikkei 225 index Shanghais SSE Composite index and Hong Kongs Hang Seng were trading higher.