4,700 per cent multibagger returns & FIIs increase stake: Auto forging stock gains over 15 per cent as Board is likely to announce bonus shares & dividend

From Rs 27 to Rs 1,301.95 per share, the stock gave multibagger returns of over 4,700 per cent in 15 years.

Today, one of the Top Gainers on BSE, shares of M.M. Forgings Ltd gained over 15 per cent and made a fresh new 52-week high of Rs 1,301.95 per share from its previous closing of Rs 1,125.45 per share with a spurt in volume by more than 17 times on BSE.

M.M. Forgings Ltd is holding a board meeting on Wednesday, May 29, 2024, to discuss and approve their audited financial statements (both standalone and consolidated) for the quarter and year ending March 31, 2024. Additionally, they may consider other agenda items. This meeting follows previous announcements about the meeting date.

Important to note, that anyone with access to inside information (defined as "specified persons") has been prohibited from trading the company's stock since April 1, 2024, and this trading window closure remains in effect until May 31st, 2024. Finally, the Board of Directors will also consider issuing bonus shares to shareholders and propose an increase in the company's authorized share capital, subject to shareholder approval and dividend for FY24.

Also Read: Promoter Group bought 7,20,000 shares worth Rs 226,07,00,606 via market purchase of this multibagger metals & mining stock; do you own it?

M.M. Forgings Ltd, founded in 1946, is a leading Indian manufacturer of steel forgings in various grades. They started with retail sales of Royal Enfield bikes but transitioned to forging in 1974. Their products cater to passenger cars, commercial vehicles, agriculture, and off-highway equipment. They are currently expanding their capacity to 120,000 tons and plan to invest in machining and electric vehicle (EV) technologies to meet the growing demand, while also focusing on acquiring new clients and products.

The company has a market cap of over Rs 3,000 crore and has been maintaining a healthy dividend payout of 17.7 per cent. From Rs 27 to Rs 1,301.95 per share, the stock gave multibagger returns of over 4,700 per cent in 15 years. Investors should keep an eye on this Small-Cap auto-forging stock under their watchlist.

Disclaimer: The article is for informational purposes only and not investment advice