Multibagger penny stock set to announce mega bonus or stock split very soon!

The returns delivered by the stock on YTD basis have been astonishing as it has jumped 661 per cent and with this it has turned a mega multibagger stock

The Friday’s session turned out to be a ‘Black Friday’ for the Nifty as it fell for the fourth consecutive session and ended the day with a loss of 1.77 per cent. This was the sharpest single day fall probably in the last three months. The selling pressure on Nifty was seen right from the word go as it opened with a gap-down amid sell-off in the US stocks in the previous session and thereafter, the bears tighten their grip and it kept falling like nine pins.   

Talking about the broader market indices, the Nifty Midcap and Small-Cap index underperformed the frontline gauge with both indices plunging 3.76 and 4.72 per cent, respectively. As a result, the advance decline ratio was firmly in favour of bears as only 111 stocks advanced against 1927 stocks decline on NSE.   

The Nifty has now reached a very crucial juncture as defined by the Fibonacci retracement as it has retraced 50 per cent of the up-move from the September lows to December high. Hence, in the next week, traders will keep a close watch on the lows of Friday session and apart from this, traders who relish the enthralling ride of trading or investing in microcap stocks, should keep a close watch on a microcap named RO Jewels.   

Incorporated in 2018, RO Jewels is in the business of procurement and sale of jewelry. You must be wondering why should one keep an eye on this not so popular microcap stock? Well, the answer lies in the past. In the past the stock has recommended a bonus and you’ll be in awe of the bonus announcement if we share the details of bonus ratio. The stock announced an 82:32 bonus issue ratio, with the record date set for June 03, 2022. Further, simplifying the ratio issue of bonus shares in the proportion of 82 new full paid-up equity shares for every 32 existing equity shares. Isn’t it wonderful?   

So, this is the reason we want you to keep this stock under your radar, as a meeting of the Board of Directors of the company will be held on December 29, 2022 to consider and approve either issue of bonus shares or stock split, whether it be bonus or split announcement but the expectation is that it would be massive going by the history.   

Furthermore, the returns delivered by the stock on YTD basis have been astonishing as it has jumped 661 per cent and with this it has turned a mega multibagger stock. Moreover, despite the sharp sell-off seen in Indian bourses on Friday, the stock marked a fresh 52-week high of Rs 52.10.   

So, what’s your opinion will the company repeat’s history of bonus or this time would it be even better, share with us your opinion in the comment section.