5,000 per cent returns in this multibagger stock: Heavy buying witnessed in this small-cap stock as it announces merger with subsidiary!
The stock gave multibagger returns of 250 per cent returns in just 1 year and over 5,000 per cent in the span of 3 years.
On Friday, one of the Top Gainers on BSE, shares of Hardwyn India were locked in a 5 per cent upper circuit to Rs 39.70 per share from its previous closing of Rs 37.85.
The sudden rise in the stock price is because it informed that the Board of Directors of the company has approved the draft scheme of amalgamation with FIBA HARDWYN LOCKS LIMITED.
Fiba Hardwyn Locks Limited is a public company incorporated under the Companies Act, 1956 on August 22, 2005, having its registered office at C-147 Mayapuri Indl Area Phase II New Delhi110064, engaged in the Manufacturing of fabricators, cutters moulder and allied business to deal in the hardware industry.
Hardwyn India Ltd is listed on BSE & NSE. The company is a manufacturer of architectural hardware and glass fittings, which provides complete solutions to residential and commercial structures. Talking about the financials, Hardwyn has a market cap of Rs 1,385 crore. The company reported excellent numbers in its Quarterly Results and annual results.
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Furthermore, 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.
The stock gave multibagger returns of 250 per cent returns in just 1 year and over 5,000 per cent in the span of 3 years. Investors should keep an eye on this Small-Cap stock.