Bonus Shares: This small-cap multibagger stock hits 5 per cent upper circuit as stock trades ex-bonus today!

In the broader market indices were trading flat, BSE Mid-Cap Index was down 0.03 per cent and BSE small-cap index up 0.12 per cent.   

On Monday, the benchmark indices started the day higher. BSE Sensex Index was up 0.05 per cent at a level of 59,678.21. In the broader market indices were trading flat, BSE Mid-Cap Index was down 0.03 per cent and BSE Small-Cap index up 0.12 per cent.   

Nettlinx Ltd informed the exchange (BSE script code: 511658) that the Board of Directors of the company has approved the issue of Bonus Equity Shares of the company in the proportion of 1 equity share of face value Rs 10 each for every 1 equity share of face value Rs 10 each. The company is trading ex-bonus today, that is Monday, April 24, 2023.   

Today, shares of Nettlinx Ltd, one of the Top Gainers on BSE, surged 5 per cent upper circuit to Rs 112.95 per share from its previous closing of Rs 107.60. Before issue of bonus shares stock has a 52-week high of Rs 272 and a 52-week low of Rs 53.50. After issue of bonus share, stock has a revised 52-week high of Rs 136 and a 52-week low of Rs 26.75.  

Nettlinx Limited is an internet service provider. The Company's services include web hosting, dedicated leased lines, domain registration, web design and e-commerce solutions.  

Talking about the financials, Nettlinx has a market cap of Rs 265.73 crore. According to the annual financial statements, in FY22 the company reported a net profit of Rs 2.56 crore compared to a net loss of Rs 0.94 crore in FY21. The promotors of the company have increased their stakes by 1.05 per cent as of December 2022.   

The stock gave multibagger returns of over 158 per cent in just 6 months whereas BSE small-cap Index is down by 1.79 per cent.   

Do you own this telecom services stock?