Multibagger in just 6 months; Board likely to announce stock split!
The stock gave multibagger returns of 718.52 per cent from its 52-week low of Rs 11.40 per share.
Servotech Power Systems Ltd announced that The Board of Directors of the company is scheduled to be held a meeting on Thursday, May 25, 2023 at 03:00 p.m. to inter-alia consider and approve the following:
1) To approve the sub-division (split) of the face value of equity shares of the company. The current face value of each share is Rs 2.
2) To approve the alteration of the capital clause in the memorandum of association of the company.
3) Any other matter or other usual routine matters including any other matter brought before the Board, with the consent of the Chairman.
On Monday, one of the Top Gainers on BSE, shares of Servotech Power Systems jumped 5 per cent upper circuit to Rs 93.30 per share from its previous closing of Rs 84.70 per share. The stock also traded at a new-week high of Rs 93.30 per share.
DSIJ offers a product 'Tiny Treasure' with recommendations for Small-Cap & micro-cap stocks based on research and analysis to help subscribers make informed investment decisions. If this interests you, then do download the product details pdf here
Servotech Power Systems is a small-cap company with a market valuation of Rs 992.03 crore. The company in Q4FY23 reported a 363 per cent jump in net profit at Rs 6.05 crore. Its revenue from operations stood at Rs 115.3 crore in the quarter. Other income surged to Rs 4.67 crore. This would be the second split, if approved, within a year. Earlier in February 2023, the company had split the face value from Rs 10 to Rs 2.
Servotech Power Systems also manufactures and distributes of EV charging solutions, solar products and medical devices. The stock gave multibagger returns of 718.52 per cent from its 52-week low of Rs 11.40 per share.
The stock is up by 254.21 per cent in 6 months, up by 507.02 per cent in 1 year and over 5,112.29 per cent in less than 3 years. Investors should keep an eye on this small-cap stock.