Debt-free penny stock under Rs 30 hit upper circuit; Board announces stock split from Rs 10 to Re 1
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 has announced that its Board of Directors has approved a sub-division of its equity shares. Each existing share with a face value of Rs 10 will be divided into 10 shares with a face value of Re 1, increasing liquidity and making the shares more affordable for small investors. The board fixed the record date for the stock split as Tuesday, October 29, 2024.
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.
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On Friday, shares of Quasar India Ltd hit a 2 per cent upper circuit to Rs 25.04 per share from its previous closing of Rs 24.55. The stock gave multibagger returns of 126.6 per cent from its 52-week low of Rs 11.05 per share. The company has a market cap of Rs 13.40 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.
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