450 per cent returns in just 2 years: This high ROE & ROCE multibagger penny stock below Rs 5 has announced rights issue!

The stock has a PE of 26.39x, a ROE of 60.30 per cent and a ROCE of 68.60 per cent.  

On Wednesday, the benchmark indices started the day high. The BSE Sensex Index is up by 1.55 per cent to a level of 60,301. In the broader markets, indices were trading flat with BSE Mid-Cap Index up 0.97 per cent and BSE Small-Cap Index up 1.29 per cent.   

After a rise of over 450 per cent in 2 years, the shares of Radhe Developers (India) Ltd are undergoing correction fourth straight day. Today, shares of Radhe Developers (India) Ltd plummeted 10 per cent to Rs 4.22 per share from its previous closing of Rs 4.68 per share. The stock also traded at 52-week low of Rs 4.22 per share.   

Recently, the company announced that The Board of Directors of Radhe Developers (India) Ltd (BSE Script Code: 531273) held a meeting where in it would raise funds through rights issue. The company did not mention any detailed information about rights issue but will be soon releasing a press release for the same.   

Radhe Developers India Ltd is a real estate development company. The company constructs and develops residential and commercial complexes.  

Talking about the financials, this company has a market cap of Rs 214.03 crore with 3 years CAGR of 114 per cent. The company reported positive numbers in its Quarterly Results and annual results. The stock has a PE of 26.39x, a ROE of 60.30 per cent and a ROCE of 68.60 per cent.  

This small-cap multibagger stock should be kept under the radar.