1,000 per cent multibagger returns in this micro-cap stock; Board announces bonus shares & stock split!
The stock gave multibagger returns of over 1,000 per cent from its 52-week low of Rs 13.98 per share.
Maagh Advertising and Marketing Services Ltd announced that the Board of Directors of the company inter-alia transacts the following matters: -
Approved the proposal of sub-division of 1,80,01,000 equity shares of the company from Rs 10 each to 18,00,10,000 equity shares of Rs 1 each as face value, subject to the shareholders’ approval and recommended the same for Shareholders approval in ensuing Extra- Ordinary General Meeting.
The company also Approved the proposal to issue up to 4,50,02,500 equity shares of Rs 1 each as bonus shares of an aggregate nominal value up to Rs 4,50,02,500 as bonus shares among the holders of existing fully paid equity shares of Rs 1 each of the company, the shareholders will be eligible for bonus shares, those who will be the shareholder as on the record date. issue of bonus shares in the ratio of 1 fully paid-up equity share for every 4 existing fully paid-up equity shares held by the Members as on the record date.
The company will first do a stock split and after that bonus issue of shares. Also, the company did not fix the record date for bonus shares or stock split.
After rising nearly 130 per cent in just 1 month, shares of Maagh Advertising and Marketing Services Ltd are undergoing a correction and have hit the lower circuit for the second straight day. On Friday, shares of Maagh Advertising and Marketing Services Ltd plunged 5 per cent to Rs 158.74 per share from its previous closing of Rs 167.09. The 52-week high of the stock is Rs 175.88 and the 52-week low of Rs 13.98. The shares of the company saw a spurt in volume by more than 1.14 times on BSE.
Incorporated in 2013, Maagh Advertising and Marketing Services Limited is an advertising agency primarily offering creative and media services. The company offers a complete range of designing, media, and printing services. The company has a market cap of Rs 285 crore and reported amazing numbers in its half-yearly results and annual results.
The stock gave multibagger returns of over 1,000 per cent from its 52-week low of Rs 13.98 per share.
Disclaimer: The article is for informational purposes only and not investment advice.
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