Back-to-back upper circuits in the multibagger penny stock under Rs 50; Board announces 2:1 bonus share!
The stock gave multibagger returns of 330 per cent in just 6 months whereas the BSE Sensex Index was up by 13.56 per cent.
Newtime Infrastructure Limited inform you that a meeting of the Board of Directors of the Company in their meeting held on Thursday, April 11, 2024, inter-alia, considered and approved bonus Shares in the ratio 2:1 i.e., the issue of 2 fully paid-up bonus equity shares for every 1 existing fully paid-up equity shares held by the equity shareholders of the company as on 'record date'. The company will intimate the 'record date for determining eligible shareholders entitled to receive bonus shares, in due course of time.
On Wednesday, shares of Newtime Infrastructure Limited hit a 5 per cent upper circuit to Rs 48.83 per share from its previous closing of Rs 46.51. The stock’s 52-week high is Rs 49.82 while its 52-week low is Rs 8.77. The shares of the company saw a spurt in volume by more than 7 times on BSE. In the recent trading sessions, the stock has been hitting back-to-back upper circuits.
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Newtime Infrastructure was earlier into the development of information technology business with the name of Intra Infotech Limited and then it changed its name and main object to infrastructure business, seeing the immense growth in the sector and therefore is now into real estate development with a pan-India presence and operations spanning all key segments of the Indian real estate industry, namely the residential, commercial, and retail sectors. The company's operations encompass various aspects of real estate development, such as land identification and acquisition, project planning, designing, marketing and execution.
The company has a market cap of Rs 833 crore. In March 2024, FIIs bought 50,00,000 shares and increased their stake to 2.89 per cent compared to 0.03 per cent in December 2023. The stock gave multibagger returns of 330 per cent in just 6 months whereas the BSE Sensex Index was up by 13.56 per cent.
Disclaimer: The article is for informational purposes only and not investment advice.
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