1:3 Bonus Share & 10:1 Stock Split: Heavy buying in this multibagger penny stock under Rs 40; Rockets over 19 per cent with 15 times spurt in volume!
The stock gave multibagger returns of 920 per cent in 3 years and a whopping 7,000 per cent since its listing.
The Indian stock market witnessed a strong rally today, with major indices trading significantly higher. The benchmark BSE Sensex Index surged by over 1.50 per cent, while the NSE Nifty-50 Index also gained by more than 1.50 per cent. This positive sentiment extended to broader markets, as the BSE Mid-Cap Index and BSE Small-Cap Index rose by 1.30 per cent and 0.80 per cent respectively.
Among the individual stocks, Hardwyn India Ltd emerged as a standout performer, with its shares soaring by over 19 per cent. The stock price climbed from Rs 30.23 per share to Rs 36 per share, accompanied by a substantial increase in trading volume, exceeding 12 times its previous level. This surge in volume pushed the stock's price close to its 52-week high of Rs 51.77, while its 52-week low stands at Rs 26.10. The company has not made any significant announcements of late. Hence, the rally in the share price could be driven purely by the market forces.
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 1,250 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 920 per cent in 3 years and a whopping 7,000 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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