Multibagger from its 52-week low; Board likely to announce stock split!

Multibagger from its 52-week low; Board likely to announce stock split!

Kiran Shroff

The stock gave multibagger returns of 114 per cent from its 52-week low of Rs 669.75 per share.

Indian Link Chain Manufacturers Ltd informed that a meeting of the Board of Directors is scheduled to be held on Monday, September 04, 2023, at 2, Chandra Niwas Hirachand Desai Road Ghatkopar West, Opp. Ghatkopar New Post Office Mumbai-400086 of the company inter alia to consider and approve:

1. Proposal for alteration in the capital of the Company by sub-division/ stock split of existing equity shares of the company presently having a face value of Rs 100 each, fully paid up.

2. Such other matters as may be considered and deemed appropriate by the board.

The Indian Link Chain Manufacturers Ltd is a diversified manufacturing company, which produces steel link chains and sulphuric acid. The company has a market cap of Rs 7 crore. According to the shareholding pattern, promoters hold a majority stake of 55.40 per cent, followed by DIIs with 0.08 per cent. The remaining 44.52 per cent is held by the general public.

On Friday, one of the Top Gainers on BSE, shares of Indian Link Chain Manufacturers Ltd surged 5 per cent upper circuit to Rs 1,432.45 per share from its previous closing of Rs 1364.25. The shares of the company saw a spurt in volume by more than 1.25 times on BSE. In the recent trading sessions, the stock is hitting back-to-back upper circuits.

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The stock gave multibagger returns of 114 per cent from its 52-week low of Rs 669.75 per share. Investors should keep an eye on this micro-cap stock.

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

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