Debt-free penny stock under Rs 25 hit lower circuit; Board likely to announce stock split!
The shares of the company have a PE of 8x, an ROE of 23 per cent and an ROCE of 33 per cent.
Quasar India Limited inform that a meeting of the Board of Directors of the company is to be held on Monday, September 23, 2024, at the corporate office of the company situated at 514 Swati Crimson and Clove, Nr. Shilaj Circle, Shilaj, Ahmedabad, Daskroi, Gujarat, India, 380054 inter alia, to consider and approve the following business:
- Sub-division/stock split of the face value of equity shares of the company.
- The date and day for the extraordinary general meeting of the company.
- Any other matter with the approval of the chair.
Quasar India Ltd, established in 1979, is a diversified trading company operating in the retail and wholesale markets. The company's extensive product range includes iron and steel, precious metals, minerals, textiles, and various other commodities. Quasar India Ltd also engages in trading, investing, and acquiring shares, stocks, and derivatives to support its core business activities.
DSIJ's ‘Penny Pick’ service provides research-backed penny stock recommendations below Rs. 100. If this interests you, do download the service details here.
On Wednesday, shares of Quasar India Ltd hit a 2 per cent lower circuit to Rs 23.67 per share from its previous closing of Rs 24.15. The stock gave multibagger returns of over 100 per cent from its 52-week low of Rs 11.05 per share. The company has a market cap of Rs 12.67 crore and as of June 2024, the company is debt-free. The shares of the company have a PE of 8x, an ROE of 23 per cent and an ROCE of 33 per cent.
Disclaimer: The article is for informational purposes only and not investment advice.