Multibagger in just 1 year & FIIs increase stake; Board likely to announce stock split!

The stock gave multibagger returns of over 100 per cent in just 1 year and a whopping 970 per cent in 5 years.

Manorama Industries Limited informed that the meeting of the Board of Directors of the company will be held on Monday, January 15, 2024, inter alia to consider and approve the proposal to sub-division/split the equity shares of the company in such manner as may be determined by the Board of Directors and subject to the approval of the shareholders and such authorities as may be required under Section 61 of the Companies Act, 2013.

Today, shares of Manorama Industries Limited gained 2.23 per cent to Rs 2,052.30 per share with an intraday high of Rs 2.065.10 and an intraday low of Rs 2,000. The stock’s 52-week high is Rs 2,399.95 and its 52-week low is Rs 894.35. The shares of the company saw a spurt in volume by more than 2.47 times on BSE.  

Pioneering the unexpected, Manorama Industries crafts a unique range of speciality fats and butter using exotic seeds and nuts, from their exclusive Mango-based Cocoa Butter Equivalent (CBE) to Shea-based kinds of butter and a spectrum of Mango, Sal, and Shea specialities, positioning themselves as the world's sole creator of these delectable alternatives.

The company has a market cap of over Rs 2,400 crore with a 5-year stock price CAGR of 60 per cent. The company reported positive numbers in its Quarterly Results and annual results. According to September 2023, the shareholding of the company, FIIs has increased their stake to 2.80 per cent compared to 2.60 per cent in June 2023 shareholding pattern.

The stock gave multibagger returns of over 100 per cent in just 1 year and a whopping 970 per cent in 5 years. Investors should keep an eye on this Small-Cap stock.

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