Don’t miss action in this penny stock that has announced rights issue!
The stock has a low PE of 11x whereas the sectoral PE is 25x.
Bhakti Gems & Jewellery (BSE Script Code: 540545) informed that The Board of Directors of the company has approved the rights issue in the ratio 1:2. The company fixed the record date as Wednesday, May 31, 2023. The right issue is priced at Rs 12 per fully paid-up equity share (including a premium of Rs 2 per equity share). The right issue opening date is Friday, June 09, 2023 and the closing date is Tuesday, June 20, 2023.
On Tuesday, shares of Bhakti Gems & Jewellery plunged 0.30 per cent to Rs 13.20 per share from its previous closing of Rs 13.24 per share with an intraday high of Rs 13.70 and an intraday low of Rs 13.07. The shares of the company saw a spurt in volume by more than 2.05 times on BSE.
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Bhakti Gems & Jewellery Ltd. is a manufacturer and wholesaler of branded jewellery & ornaments. The company reported positive numbers in its Quarterly Results and annual results. In FY22, net sales increased by 30 per cent and net profit increased by 100 per cent compared to FY21.
The stock has a low PE of 11x whereas the sectoral PE is 25x. Investors should keep an eye on this micro-cap stock.