Ashish Kacholia bought additional 4.19 per cent stake in this multibagger penny stock with 1,365 per cent returns: Board announces Rs 17.3 crore fundraising for business expansion!

The stock gave multibagger returns of 1,365 returns in 3 years.

DU Digital Global Limited informed that a meeting of the Board of Directors of the company is scheduled to be held on Monday, December 04, 2023, at 03.30 P.M to consider, inter alia following matters:

The Board of Directors of the Company held a meeting recently and discussed various business matters. They approved the grant of an inter-corporate loan of Rs 8.5 crore to Dudigital Global LLC, a wholly-owned subsidiary, and an investment of Rs 8.5 crore in other subsidiaries or new companies. Additionally, they approved a loan of Rs 30 lakh to OSC Global Processing Private Limited, another subsidiary of Dudigital Global Limited. The Board deferred a proposal to raise funds by issuing equity shares, convertible securities, or warrants.

DU Digital Global Limited is a company that manages the human interface between visa applicants and the technical visa processing unit of embassies in other countries. The company also provides other services related to visas, passports, and other citizen services. DU Digital Global Limited is a financially sound SME with positive financials.

Financials

• Market Cap: Rs 312.75 crore
• Positive half-yearly and annual results
• 52-week high: Rs 77.6
• 52-week low: Rs 27.50
• SME segment stock
• Lot size: 2,000 shares

In the current financial year, the company issued bonus shares in the ratio of 3:1, meaning that for every 1 existing share, shareholders received 3 new shares. The ex-date for the bonus shares was Friday, June 02, 2023.

DU Digital Global Limited is a well-established company with a strong track record of profitability. The company is well-positioned for growth in the future, as the demand for its services is expected to increase.

Ace Investor has increased his stake in DU Digital Global Limited to 9.15% by purchasing an additional 4.19% stake in October 2023. This is a significant development for the company, as it demonstrates that a well-respected investor is confident in its future prospects. His increased stake in DU Digital Global Limited is likely to be seen as a positive signal by other investors and could help to boost the company's share price.

Today, one of the Top Gainers on BSE, shares of DU Digital Global Limited was locked in a 5 per cent upper circuit to Rs 44.85 per share from its previous closing of Rs 42.75. The stock gave multibagger returns of 1,365 returns in 3 years.

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