52-week high alert in this multibagger stock; Board likely to announce bonus shares!

52-week high alert in this multibagger stock; Board likely to announce bonus shares!

Kiran Shroff

The stock gave multibagger returns of 170 per cent in just 6 months whereas BSE Sensex Index is just up by 3.34 per cent.

Shish Industries Limited, one of the leading manufacturers and distributes plastic containers and packaging solutions in India, announced that a meeting of the Board of Directors of our Company is scheduled to be held on Wednesday, June 21, 2023 inter alia,

1. To recommend the issuance of bonus shares.

2. To formulate and implement ‘Shish Industries Limited - Employee Stock Option Plan 2023’ (“ESOP 2023”) for grant of ESOPs to eligible employees of the company.

3. To consider and discuss any other items as may be decided by the Board of Directors of the company.

On Friday, shares of Shish Industries Limited zoomed 7.30 per cent to make a new 52-week high of Rs 395 per share. At 03:30 pm, shares of the company ended the date in green, up 5.74 per cent to Rs 389.30 per share.

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According to the financials, the company have a market cap of over Rs 400 crore with a 3-year CAGR of 173 per cent. The company reported fantastic numbers in its Quarterly Results and annual results. The stock had a ROE of 24 per cent and a ROCE of 26 per cent.

The shares of the company saw a spurt in volume by more than 3.52 times on BSE. The stock gave multibagger returns of 170 per cent in just 6 months whereas BSE Sensex Index is just up by 3.34 per cent. Investors should keep an eye on this micro-cap stock.

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