700 per cent returns and 52-week high: Board announced stock split of equity shares; FIIs increased stake!

Shares of this company have gained more than 50 per cent in the last six months.

Shares of J B Chemicals & Pharmaceuticals Limited surged over 1 per cent hitting a fresh 52-week high of Rs 3,049.15 on the BSE today. The stock has been on a rally since the company announced the stock split.

The record date for the sub-division of the equity shares is fixed on, September 18, 2023. The company’s board has approved a Split or Sub-Division of 1(One) equity share having a face value of Rs 2/- (Rupees Two Only) each into 2(Two) equity shares having a face value of Rs 1/- (Rupees One Only) each.

J.B. Chemicals and Pharmaceuticals Limited is one of the leading pharmaceutical companies in India. The company manufactures a wide range of pharmaceutical formulation specialities, radio-diagnostics, APIs and intermediates.

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J B Chemicals & Pharmaceuticals Limited has delivered multibagger returns to its shareholders in the last three years. During this period, shares of J B Chemicals & Pharmaceuticals Limited surged from Rs 1125.85 on September 11, 2020, to Rs 2940.95 on September 13, 2023, an increase of about 160 per cent in a three-year holding period. In the last five years, the shares of the company gained over 700 per cent.

Furthermore, in Q1FY24, the revenue of the company stood at Rs 896.20 crore which increased by 14.19 per cent YoY, while the PAT of the company increased by 35.29 per cent YoY, staying at Rs 142.32 crore. In Q1FY24, FIIs increased their stake in the company from 8.62 per cent to 9.53 per cent.

The stock has shown tremendous growth and investors should keep a close eye on this stock.

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