Multibagger penny stock below Rs 10 with 2,000 per cent returns: Board announce bonus shares & dividend!

The stock gave multibagger returns of 590 per cent in 2 years, 800 per cent in 3 years and a whopping 2,000 per cent in 5 years.

IFL Enterprises Ltd informed that the meeting of the Board of Directors has approved bonus shares and dividend. Here are the details:

Bonus Shares Issuance: The board approved the purpose of issuance of bonus shares to the fully paid equity shareholders of the Company in the proportion of 01:10 i.e., 1 new fully paid equity shares for every 10 existing equity shares held on such date as may be fixed by the board for this purpose (Record Date) and the new bonus share issued. The company did not declare any record date for the issue of bonus shares.

Dividend: The board will consider the payment of interim dividends of Rs 0.0001 for a face value of Rs 1 each for the Financial Year 2023-2024. The company fixed the record date for the dividend as November 11, 2023.

On Friday, one of the Top Losers on BSE, shares of IFL Enterprises Ltd plunged 5 per cent to Rs 6.97 per share with an intraday high of Rs 7.68 and an intraday low of Rs 6.98. The stock gave multibagger returns of 590 per cent in 2 years, 800 per cent in 3 years and a whopping 2,000 per cent in 5 years.

IFL Enterprises Company is involved in the business of trading in goods e.g., fabric and related products as well as shares and securities within permissible limits prescribed by regulators such as RBI or SEBI.

Talking about the financials, IFL Enterprises has a market cap of over Rs 150 crore. The company reported amazing numbers in its Quarterly Results (Q4) and annual results (FY23). The net profit recorded was Rs 0.51 crore in FY23 compared to a net loss of Rs 0.21 crore in FY22. The stock has a 52-week high of Rs 16.90 and a 52-week low of Rs 7.33.

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