Multibagger penny stock under Rs 10; Board likely to announce bonus shares!

After rising nearly 400 per cent over the period of 1 year, shares of Vivanta Industries Ltd are undergoing a correction and have hit the lower circuit for the third straight day.

Vivanta Industries Ltd informed that a meeting of the Board of Directors of the company is scheduled to be held on Tuesday, July 18, 2023, to transact the following business:

1) To consider and approve the unaudited standalone and consolidated financial results of the company for the quarter ended on June 30, 2023.

2) To consider and propose the issue of bonus equity shares to the existing equity shareholders of the company.

3) Any other business as the board deems fit to discuss, with the permission of the chair.

After rising nearly 400 per cent over the period of 1 year, shares of Vivanta Industries Ltd are undergoing a correction and have hit the lower circuit for the third straight day. On July 10, 2023, shares of Vivanta Industries Ltd plunged 2 per cent to Rs 6.88 per share from its previous closing of Rs 7.02. The 52-week high of the stock is Rs 8.66 and the 52-week low of Rs 1.22.

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.

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 68.80 crore. The company reported excellent numbers in its Quarterly Results & annual results and has reduced its debt (Current debt: Rs 4.25 crore).

Investors should keep this multibagger micro-cap stock under the radar.