Multibagger penny stock under Rs 20 with 1,300 per cent returns; Board successfully allotted 101,99,04,050 bonus shares in the ratio of 2:1
The stock gave multibagger returns of 1,367.03 per cent in just 3 years.
Rama Steel Tubes Ltd informed that the Board of Directors of the company in their meeting held today has made an allotment of 101,99,04,050 fully paid-up bonus equity shares of Rs 1 each in the ratio 2:1, i.e., 1 equity share of Rs 1 each for every 2 equity share of Rs 1 each held by the shareholders of the company as on the record date ((March 19, 2024).
The Board of Directors of the Company have also reserved 1,62,50,000 bonus shares for 16,25,000 number of outstanding warrants as on record date pending for conversion into equivalent number of equity shares, in the ratio of 2:1 (i.e. Two equity shares for everyone equity shares held).
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Established in 1974, Rama Steel Tubes stands as a leading Indian manufacturer of black and galvanized pipes, tubes, poles, and square sections, catering to diverse industries like real estate, defence, telecom, irrigation, and infrastructure.
In the previous financial year 2022-2023, the company had declared bonus shares in the ratio 4:1 and stock split from a face value of Rs 5 to a face value of Rs 1. The stock split record date was August 28, 2022 and the bonus shares record date was January 06, 2023. In its Quarterly Results (Q2FY24) and annual results (FY23), the company reported positive numbers.
Today, shares of Rama Steel Tubes Ltd plunged 11.48 per cent to Rs 13.50 per share with an intraday high of Rs 15.15 and an intraday low of Rs 13.15. The stock’s 52-week high is Rs 16.83 and its 52-week low is Rs 8.82
The company have a market cap of Rs 1,986 crore with a 3-year stock price CAGR of 296 per cent. The stock gave multibagger returns of 1,367.03 per cent in just 3 years. Investors should keep an eye on this Small-Cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.