Multibagger penny stock at Rs 37.08; Board likely to announce bonus shares & stock split!

The stock gave multibagger returns of over 200 per cent from its 52-week low is Rs 11.85 per share.

On Tuesday, shares of PVV Infra Ltd were locked in a 5 per cent upper circuit to Rs 37.08 per share from its previous closing of Rs 35.32. The stock also made a fresh new 52-week high of Rs 37.08 per share with a spurt in volume by more than 1.56 times on BSE.

PVV Infra Ltd informed that a meeting of the Board of Directors of the Company is scheduled to be held on April 29, 2024, inter alia, to consider and approve the following items:

• To recommend and approve the issue of bonus shares to the equity shareholders of the company.
• To consider a proposal of sub-division/split in the face value of equity shares of the company according to the provisions of Section 61 of the Companies Act, 2013.
• To consider the proposal of an increase in the authorized share capital of the company.
• To consider and approve the date for the issue of postal ballot notice.

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Earlier, PVV Infra Ltd.'s board approved setting up EV charging stations across India, aligning with their sustainability goals and causing a stock price surge. This decision follows rising demand for EV infrastructure, the potential for revenue generation, environmental benefits, and identified locations like petrol pumps. The company is partnering with experts and exploring financing options to implement this project and potentially benefit from government subsidies.

PVV Infra Limited provides engineering, designing, planning, and execution of infrastructure work. The company owns, builds, operates, and transfers power-generating plants. PVV Infra also constructs houses, industrial parks, multiplexes, shopping complexes, and townships. The company has a market cap of Rs 85.22 crore. The stock gave multibagger returns of over 200 per cent from its 52-week low is Rs 11.85 per share. Investors should keep an eye on this micro-cap stock.

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