Don't Miss Out! Multibagger Micro-Cap Stock Below Rs 2 Announces Exciting Rights Issue!

From Rs 0.57 per share to Rs 1.25 per share, the shares of the company gave multibagger returns of 120 per cent in just 4 years.

Godha Cabcon and Insulation informed that the Board of the Company has approved the rights issue in the ratio 2:1 for the equity shareholders. The rights issue price is Rs 1 per equity share for a face value of Rs 1 each. The company fixed the record date as Friday, May 12, 2023 with issue opening date as Thursday, May 25, 2023 and issue closing date as Thursday, June 08, 2023.   

On Wednesday, shares of Godha Cabcon and Insulation surged 5 per cent to Rs 1.25 per share from its previous closing of Rs 1.20. The stock has a 52-week high of Rs 17.50 and a 52-week low of Rs 1.05.   

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Godha Cabcon and Insulation Ltd manufactures aluminium conductors, which have applications in overhead electricity transmission and distribution lines. Its manufacturing unit is located in Indore.  

According to the annual statements, net sales rose by per cent and net profit rose by per cent in FY22 over FY21. The company has reduced its debt in the financial year 2022-2023 and the current debt of the company is just Rs 2.75 crore as of March 2023.   

From Rs 0.57 per share to Rs 1.25 per share, the shares of the company gave multibagger returns of 120 per cent in just 4 years. Godha Cabcon and Insulation, a micro-cap stock should be kept under the radar.