Heavy Buying: Back-to-back upper circuit in this multibagger micro-cap stock; hits fresh 52-week high & FII bought 5,00,000 shares!

The stock gave multibagger returns of 450 per cent in just 1 year and a whopping 1,000 per cent in 3 years.

Today, one of the Top Gainers on BSE, shares of OK Play India Ltd were locked in a 5 per cent upper circuit to Rs 172.50 per share from its previous closing of Rs 164.30. The stock also made a fresh 52-week high of Rs 172.50 per share. The stock has been hitting back-to-back upper circuits in the recent trading sessions.

OK, Play India Limited has announced a preferential issue of warrants, raising a total of Rs.30,93,75,000. The issue was spearheaded by Saint Capital Fund (an FII), with participation from 15 individuals and companies. Saint Capital Fund itself received an allocation of 5,00,000 shares worth Rs 6.25 crore.

In a separate development, OK Play India has entered into a strategic partnership with MANN+HUMMEL, a global leader in filtration technology. The partnership aims to combat air pollution in India through the distribution and installation of MANN+HUMMEL's Pure Air Mobile Fine Dust Particle Filter Roof Box. This partnership is expected to significantly improve air quality and benefit the health of millions of people.

Additionally, OK Play India's Board of Directors has approved the sub-division/split of the company's equity shares. This will involve dividing each existing equity share of Rs 10 into 10 equity shares of Rs 1 each. The company has not yet announced the record date for the stock split.

Talking about the financials, the company has a market cap of over Rs 450 crore. According to Quarterly Results, the company reported a turnaround story wherein the company reported a net profit of Rs 0.42 crore in Q1FY24 compared to a net loss of Rs 1.42 crore in Q1FY23 and net sales increased by 0.55 per cent to Rs 40.31 crore in Q1FY24 compared to the same quarter last year. According to half-yearly results, the company also reported a turnaround story wherein the company reported a net profit of Rs 0.78 crore in Q1FY24 compared to a net loss of Rs 4.42 crore in Q1FY23 and net sales increased by 3 per cent to Rs 83.56 crore in H1FY24 compared to last year.

OK Play India Ltd is a leading manufacturer of plastic moulded products in India, with two business segments: Toys and Automotive Components. The company's products are exported to over 60 countries around the world, and OK Play is a major player in the Indian toy industry. In the September quarter 2023, FIIs have increased their stakes from 13.51 per cent to 19.64 per cent.

The stock gave multibagger returns of 450 per cent in just 1 year and a whopping 1,000 per cent in 3 years. Investors should keep an eye on this micro-cap stock.

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