IEPF-backed multibagger micro-cap stock hit back-to-back upper circuits; Board announces first-ever stock split!

The stock is up by 126 per cent in 2 years whereas BSE Sensex Index is up by 9.64 per cent.

Ravalgaon Sugar Farm Ltd informed that a meeting of the Board of Directors of the company approved a sub-division / stock split in the ratio of 1:5 i.e., existing equity shares of the company from a face value of Rs 50 (Rupees fifty only) each to a face value of Rs 10 (Rupees ten only) each fully paid-up, subject to the approval of shareholders at the ensuing Annual General Meeting (AGM) of the company. The record date for the sub-division of equity shares is Friday, November 24, 2023.

The Ravalgaon Sugar Farms Ltd manufactures confectioneries like hard-boiled sweets and toffees and caters to the general trade and modern trade markets. The company has a market cap of Rs 35.69 crore with a 3-year stock price CAGR of 48 per cent. As of September 2023, Investor Education and Protection Fund (IEPF), Ministry of Corporate Affairs owns 793 shares of 1.17 per cent aggregating to Rs 41,61,902 (as of November 17, 2023 closing price).

As of June 2023, the promoters of the company own a majority stake of 53.31 per cent, followed by DIIs with a 0.05 per cent stake. The remaining 46.64 per cent of the shares are held by the general public.

On November 17, 2023, shares of Ravalgaon Sugar Farm Ltd hit 249.90 points or 5 per cent upper circuit to Rs 5,248.30 per share from its previous closing of Rs 4,998.40. The shares of the company saw a spurt in volume by more than 2.35 times on BSE. The stock’s 52-week high is Rs 6,004.95 and its 52-week low is Rs 2,981.

The stock gave multibagger returns of 225 per cent in 3 years. The stock is up by 126 per cent in 2 years whereas BSE Sensex Index is up by 9.64 per cent. Investors should keep an eye on this micro-cap stock.

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