Multibagger penny stock under Rs 10; Board announces bonus shares and dividend for the first time ever!
The shares of the company saw a spurt in volume by more than 57.53 times on BSE.
Vivanta Industries Ltd informed that the Board of Directors of the company have approved bonus shares in the ratio 1:4 (i.e., 1 new fully paid-up equity share of Rs 1 each for every 4 existing equity shares of Rs 1 each as of record date) and final dividend of 3 per cent of face value of Rs 1 per share for the financial year ended March 31, 2023. The company fixed the record date for bonus shares and final dividend as Tuesday, September 05, 2023.
After rising nearly 250 per cent over the period of 1 year, shares of Vivanta Industries Ltd are undergoing a correction and hitting the lower circuit for the 13th straight day. On Thursday, at 03:30 pm, shares of Vivanta Industries Ltd plunged 2.85 per cent to Rs 5.12 per share with an intraday high of Rs 5.53 and an intraday low of Rs 5.01. The 52-week high of the stock is Rs 8.66 and the 52-week low of Rs 1.52.
Recently, the company has bagged an order worth Rs 35 crore for manufacturing A.P. (Active pharmaceuticals Ingredient) purification and sterilization Plant with Lyophilizers in small batch API. The company will create an advanced quality control system and R & D facility in new I.P. creation in the field of API & Intermediaries.
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Vivanta Industries Limited (VIL) provides engineering services. The company offers land survey and procurement, project designing, fiscal studies, funding, and marketing services. Talking about the financials, this civil construction company has a market cap of Rs 51.20 crore. The shares of the company saw a spurt in volume by more than 57.53 times on BSE.
Furthermore, according to the Quarterly Results, the company reported net sales of Rs 14.08 crore. The operating profit skyrocketed by 792.50 per cent to Rs 0.36 crore and net profit skyrocketed by 1,034.48 per cent to Rs 0.33 crore in Q1FY24 compared to Q1FY23. Investors should keep this multibagger micro-cap stock under the radar.
Disclaimer: The article is for informational purposes only and not investment advice.