1:3 Bonus Share & 10:1 Stock Split: Heavy buying in this multibagger penny stock at Rs 30 with 5,900 per cent returns; Scrip is up over 4 per cent today!
The stock gave multibagger returns of 750 per cent in 3 years and a whopping 5,900 per cent since its listing.
Today, the stock market was trading in green with the BSE Sensex Index up by 0.31 per cent and the NSE Nifty-50 Index up by 0.33 per cent. On the broader market, the indices were also trading in green with the BSE Mid-Cap Index up by 0.72 per cent and the BSE Small-Cap Index up by 0.73 per cent.
Along with the market in green, the shares of Hardwyn India Ltd gained over 4 per cent to Rs 30 per share from its previous closing of Rs 28.80. The stock’s 52-week high is Rs 52.70 and its 52-week low is Rs 26.10. The shares of the company saw a spurt in volume by more than 2 times.
Hardwyn India Ltd, listed on both BSE and NSE, specializes in manufacturing architectural hardware and glass fittings for residential and commercial structures, providing comprehensive solutions. The company boasts a market capitalization of over Rs 1,000 crore.
Earlier, the company implemented a trading phase where ex-bonus shares were traded at a ratio of 1:3 and an ex-stock split took place at a ratio of 10:1 for the equity shareholders based on the record date. The company has set Monday, June 05, 2023, as the fixed record date for both the bonus share and stock split.
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In a move to capitalize on further growth opportunities, Hardwyn India Ltd. established a new subsidiary, Slim-X. This wholly-owned company leverages Hardwyn's expertise in architectural hardware to develop innovative ultra-slim, high-performance aluminium profiles. Slim-X aims to capture industry demand within two years by offering aesthetically pleasing, convenient, and long-lasting products that target architects, designers, builders, and contractors. With its focus on cutting-edge technology, Slim-X positions itself to be a major player in the market and contributes to Hardwyn India Ltd.'s continued success.
Looking at the annual performance, Hardwyn India Ltd. continued its positive trajectory. Standalone net sales for the entire fiscal year (FY24) climbed 8.35 per cent to Rs 135.50 crore, and net profit grew by 8 per cent to Rs 9.75 crore compared to the previous year. The company's consolidated annual results were equally impressive, with net sales reaching Rs 157.84 crore and a net profit of Rs 10.23 crore in FY24. The stock gave multibagger returns of 750 per cent in 3 years and a whopping 5,900 per cent since its listing. Investors should keep an eye on this small-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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