6,300 per cent returns: This multibagger micro-cap stock is set to trade ex-bonus tomorrow; hits upper circuit & 52-week high!

The stock gave multibagger returns of 177 per cent in 6 months and over 650 per cent in 1 year.

The stock market opened in the red today, with both the BSE Sensex and NSE Nifty-50 indices down by 1 per cent each. The Sensex is currently trading at 65,850, while the Nifty is at 19,545. All of the sectoral indices are also in the red, with the BSE Information Technology Index down by 0.55 per cent.

Despite the overall decline in the stock market, shares of NINtec Systems Ltd surged by 5 per cent to hit an upper circuit of Rs 690.75 per share. The shares of the company made a new 52-week high of Rs 690.75 per share.

The stock has been hitting back-to-back upper circuits and 52-week highs in recent trading sessions. The reason for the surge is the company's announcement of a bonus issue in the ratio of 4:5 (i.e., 4 bonus equity shares of Rs 10 each for every 5 fully paid-up equity shares held as of the record date). The company fixed the record date for bonus shares as Thursday, August 03, 2023.

As of the date, the company has a paid-up equity capital of Rs. 10.32 crore, consisting of 10.32 million shares of Rs 10 each. After the bonus issue, the paid-up equity capital will increase to Rs 18.58 crore, consisting of 18.58 million shares of Rs 10 each.

The company has a market cap of over Rs 700 crore and its stock price has grown at a CAGR of 130 per cent over the past 5 years. The company has also reported strong financial results, with a ROE of 33.40 per cent and a ROCE of 44.40 per cent.

The stock gave multibagger returns of 177 per cent in 6 months and over 650 per cent in 1 year. From Rs 10.67 per share to Rs 690.75 per share, the stock gave astounding returns of 6,300 per cent in just 5 years. Investors should keep an eye on this micro-cap stock.

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