LIC-backed multibagger penny stock below Rs 10; Board announces bonus shares for first time ever – know the record date inside!

The stock gave multibagger returns of 440 per cent in just 2 years and a whopping 1,500 per cent in 3 years.

The Indian benchmark indices ended the trading session in green, the BSE Sensex surpassed 71,900 and the NSE Nifty-50 breached 21,600, marking all-time highs for both indices.

Along with the market at its peak, a multibagger penny stock from the FMCG sector backed by the Life Insurance Corporation of India (LIC) skyrocketed. Heavy buying since pre-market on BSE and the price surged by 6.17 per cent to Rs 7.45 per share, up from Rs 6.99 per share being the previous closing.

The company announced bonus shares in the ratio of 1:1, i.e., for every 1 equity share having a face value of Rs 1 held by an eligible shareholder on the record date, the shareholder will receive 1 additional bonus share having a face value of Rs 1. The company fixed the record date for the bonus issue of shares as Thursday, January 11, 2024.

The stock name is Integra Essentia Ltd.

Integra Essentia Ltd is in the business of life essentials viz., food, clothing, infrastructure and energy. The company has a market cap of over Rs 300 crore. As of September 30, 2023, LIC owns 48,59,916 shares or 1.06 per cent.

Integra Essentia has bolstered its presence and expanded into the beer & whiskey production market by acquiring a majority stake in Brewtus Beverages, transforming it into a subsidiary and committing initial investment for growth. This move aligns with the company's strategic focus on expanding its lifestyle beverages business and capitalizing on the promising market potential.

Results: The company's consolidated financial performance improved significantly in Q2FY24 and H1FY24 compared to the same periods in the previous fiscal year. The company's revenue grew by 17.11 per cent in Q2FY24 and 7.79 per cent in H1FY24. EBITDA increased by 420.98 per cent in Q2FY24 and 407.23 per cent in H1FY24, and PAT increased by 248 per cent in Q2FY24 and 217 per cent in H1FY24. 

The stock gave multibagger returns of 440 per cent in just 2 years and a whopping 1,500 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.