Multibagger from its 52-week low: Don’t miss action in this stock that has announced rights issue!

The stock gave multibagger returns of 185 per cent from its 52-week low of Rs 53.85 per share.

On Tuesday, shares of Som Distilleries & Breweries surged 3.96 per cent to an intraday high of Rs 153.75 per share. At 03:30 pm, shares of the company ended the day in the green, up 3.55 per cent to Rs 153.15.   

Som Distilleries & Breweries informed that The Board of Directors of the company has approved rights issue in the ratio 10:211 to its eligible shareholders as of the record date. The price of the rights issue is Rs 140 per share. The company verified the record date as Thursday, April 13, 2023.   

Recently the company announced that it has expanded its canning line at Bhopal and has commenced commercial production. This marks an exciting milestone for the company as they expand its product offerings and increase its production capabilities. This will also enable them to take advantage of the peak consumption season of beer.  

Som Distilleries & Breweries Ltd. is one of the leading alcoholic beverages manufacturers in India, engaged in the manufacturing and sale of Beer and Indian Made Foreign Liquor (IMFL).   

According to the financials, Som Distilleries & Breweries Ltd has a market cap of Rs 1,130 crore with a 1-year CAGR of 109 per cent. In Q3FY23, net sales zoomed 67.42 per cent and net profit zoomed 1,200 per cent over Q3FY22.   

The stock gave multibagger returns of 185 per cent from its 52-week low of Rs 53.85 per share. Investors should keep an eye on this Small-Cap stock.