Multibagger in just 1 month: Don’t miss action in this stock that has announced bonus shares and dividend!

The stock gave multibagger returns of 111.60 per cent in just 1 month whereas BSE Small-cap Index rose by only 0.16 per cent.

On Wednesday, the benchmark domestic indices ended higher with BSE Sensex Index up 0.21 per cent to a level of 60,348.09. One of the losing sectoral indices was BSE Telecommunication Index, down 0.26 per cent at a level of 1,592.52.   

Despite being a mixed market today, shares of Nettlinx Ltd surged 5 per cent upper circuit to Rs 227.15 per share from its previous closing of Rs 216.35. The stock has a 52-week high of Rs 272 and a 52-week low of Rs 53.50.  

Nettlinx Ltd informed the exchange (BSE script code: 511658) that the Board of Directors of the company has approved an interim dividend for the financial year 2022-23 at Rs. 0.40 per share and a bonus issue in a 1:1 ratio.   

The company verified the record date for the interim dividend as Friday, March 17, 2023. Further, the bonus shall be credited to those shareholders who are holding the equity share on a record date to be determined by the Board.   

Nettlinx Limited is an Internet service provider. The Company's services include web hosting, dedicated leased lines, domain registration, web design and e-commerce solutions.  

Talking about the financials, Nettlinx has a market cap of Rs 250 crore. According to the annual consolidated financial statements, in FY22 the company reported a net profit of Rs 2.56 crore compared to a net loss of Rs 0.94 crore in FY21.  

The stock gave multibagger returns of 111.60 per cent in just 1 month whereas BSE Small-Cap Index rose by only 0.16 per cent. Do you own this telecom services stock?