Multibagger penny stock from 52-week low; Board of this micro-cap civil construction company is likely to announce stock split!

The stock gave multibagger returns of 205.1 per cent from its 52-week low of Rs 14.35 per share.

On Friday, shares of Shashijit Infraprojects Ltd plunged 0.57 per cent to Rs 41.81 per share with an intraday high of Rs 43.78 and an intraday low of Rs 41.75. The stock’s 52-week high is Rs 44 and its 52-week low is Rs 14.35.

Shashijit Infraprojects Ltd informed that a meeting of the Board of Directors of the Company is scheduled to be held on Tuesday, September 05, 2023, inter alia to consider and approve the proposal for stock split of the equity shares of the company having a face value of Rs 10 (Rupees Ten) each fully paid up in such manner as may be determined by the Board of Directors and subject to approval of the shareholders and such authorities as may be required.

Incorporated in 2007, Shashijit Infraprojects Ltd does the construction of residential, industrial, commercial and Institutional buildings. The company has a market cap of Rs 43.25 crore. According to the shareholding pattern, promoters own 53.04 per cent shares of the company and the rest 46.96 per cent shares are owned by the public.

According to the Quarterly Results, the net sales decreased by 2.75 per cent to Rs 8.13 crore while the net profit increased by 91.67 per cent to Rs 0.23 crore in Q1FY24 compared to Q1FY23. In FY23, the net sales increased by 24.13 per cent to Rs 35.34 crore and net profit skyrocketed by 246.15 per cent to Rs 0.45 crore compared to FY22.

The stock gave multibagger returns of 205.1 per cent from its 52-week low of Rs 14.35 per share. Investors should keep an eye on this micro-cap stock.

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