Multibagger in just 6 months: Don’t miss action in this stock that has announced bonus shares!

The promotors of the company have increased their stakes by 1.05 per cent as of December 2022.

On Thursday, one of the Top Gainers on BSE, shares of Nettlinx Ltd surged 5 per cent upper circuit to Rs 202.98 per share from its previous closing of Rs 192.90. 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 the issue of Bonus Equity Shares of the company in the proportion of 1 equity share of face value Rs 10 each for every 1 equity share of face value Rs 10 each. The company verified the record date as Monday, April 24, 2023.

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 238.21 crore. According to the annual 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 promotors of the company have increased their stakes by 1.05 per cent as of December 2022.

The stock gave multibagger returns of 127.55 per cent in just 6 months whereas BSE Small-Cap Index is down over 1.31 per cent.

Do you own this telecom services stock?