Debt-free penny stock under Rs 10; Board announces 1:2 bonus shares – Record date inside

The stock gave multibagger returns of over 100 per cent from its 52-week low of Rs 3.50 per share.

Ashirwad Capital Ltd informed that the Meeting of the Board of Directors of the company announced bonus shares in the ratio 1:2, i.e., 1 bonus equity share of Re 1 each for every 2 existing equity shares of Rs 1 each held as on a record date. The Board fixed the record date for bonus shares as Tuesday, June 25, 2024.

Pre-bonus paid-up share capital Rs 6,00,00,000 divided into 6,00,00,000 equity shares of Re 1 each and Post-Bonus paid-up share capital Rs 9,00,00,000 divided into 9,00,00,000 equity shares of Re 1 each.

Established in 1985, Ashirwad Capital Ltd is a non-bank finance company that primarily focuses on investing in stocks and securities. Their business activities also include manufacturing decorative items like carvings of precious and semi-precious stones, paintings, and jewellery. Additionally, they generate income through property-related compensation.

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According to the financials, Ashirwad Capital has a market cap of over Rs 40 crore with a 3-year CAGR of 40 per cent. The company is debt-free. According to the shareholding pattern, the promoters of the company own 51 per cent and the rest 49 per cent stake is owned by the public.

On Friday, shares of Ashirwad Capital Ltd gained 4.62 per cent to an intraday high of Rs 7.48 per share from its previous closing of Rs 7.15. The stock has a 52-week high of Rs 8.24 per share and a 52-week low of Rs 3.50 per share. The stock gave multibagger returns of over 100 per cent from its 52-week low of Rs 3.50 per share. Investors should keep an eye on this micro-cap stock.

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