Multibagger in just 6 months: Don’t miss action in this micro-cap stock that has announced rights issue!

Today, shares of the company saw a spurt in volume by more than 1.47 times on BSE.  

On Tuesday, at closing bell the domestic indices ended the day in red. BSE Sensex Index was down by 0.31 per cent to a level of 59,727.01 and NSE Nifty-50 Index was down by 0.26 per cent to a level of 17,660.15.  

Despite being a weak market, one of the Top Gainers on BSE were shares of Phyto Chem India Ltd that were locked in 5 per cent upper circuit to Rs 47.35 per share.   

Recently, Board of the company has approved inter-alia, the following items:  

1) Approved the proposal for increase of authorised capital of the company from Rs 13.50 crore divided into 1.35 crore equity shares of Rs 10 each to Rs 24.50 crore divided into 2.45 crore equity shares of Rs 10 each.   

2. Approved the proposal of rights issue of the company up to 2 crore equity shares of Rs 10 each.  

3. Approved the proposal for alteration of objects clause of the Memorandum of Association (MOA) of the company. 

4. Approved the notice of extra ordinary general meeting of the company.  

Phyto Chem India Ltd manufactures agricultural chemicals. The company produces insecticides, fungicides, weedicides, herbicides, acaricides and synthetic pyrethroids. Today, shares of the company saw a spurt in volume by more than 1.47 times on BSE.  

The stock gave multibagger returns of 105.42 per cent in just 6 months whereas BSE Sensex Index is just up by 1.05 per cent.   

Investors should keep an eye on this micro-cap stock.