Multibagger penny stock below Rs 90; Board likely to announce bonus shares and stock split!

Multibagger penny stock below Rs 90; Board likely to announce bonus shares and stock split!

Kiran Shroff

The stock gave multibagger returns of 139.5 per cent from its 52-week low of Rs 36.05 per share and a whopping 335 per cent in 3 years.

Colab Cloud Platforms Ltd informed that a meeting of the Board of Directors of the company will be held on Wednesday, January 24, 2024 at the corporate office of the company to consider and approve the following business transactions in addition to the matters already stated in previous intimation:

  1. To increase the authorised share capital of the company.
  2. To consider and approve the issue of bonus shares to the equity shareholders of the company at such rate/ratio to be decided therein.
  3. To consider and approve the proposal of sub-division/split of the equity shares of the company in such manner as may be determined by the Board of Directors, subject to the approval of the members and such regulatory/statutory authorities as may be required.
  4. To shift the registered office of the company.
  5. To approve notice of postal ballot.
  6. Any other business matter with the permission of the chair.

Today, shares of Colab Cloud Platforms Ltd hit a 2 per cent upper circuit to Rs 86.35 per share. The stock also made a fresh 52-week high of Rs 86.35 per share. In the recent trading sessions, the stock has been hitting back-to-back upper circuits and 52-week highs.

Established in 1989, Colab Cloud Platforms Ltd is a multifaceted Indian company that delves into both the physical and digital realms of IT. They engage in computer hardware and software processing job-work, essentially handling the behind-the-scenes grunt work that keeps technological systems running smoothly. The company has a market cap of Rs 88.08 crore.

Additionally, Colab Cloud Platforms Ltd dabbles in the world of finance through trading shares and securities, demonstrating its diverse range of expertise within the ever-evolving IT landscape. The stock gave multibagger returns of 139.5 per cent from its 52-week low of Rs 36.05 per share and a whopping 335 per cent in 3 years.

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

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