Multibagger penny stock under Rs 50 to issue warrants worth Rs 15,00,00,000; scrip hit back-to-back upper circuits!

The stock gave multibagger returns of 218 per cent in just 6 months and a whopping 1,100 per cent in 3 years.

Madhuveer Com 18 Network Ltd informed that the Board of Directors in their meeting held on Monday, September 25, 2023, which commenced at 05.15 p.m. and concluded at 07.55 p.m. decided to issue up to 1,50,00,000 (one crore fifty lacs) warrants at the price of Rs 10 per warrant aggregating to Rs 15,00,00,000.

There are 5 (five) allottees who are being issued warrants by way of this preferential allotment: Mr Dhruvin Shah; Mr Sagar Samir Shah; Mr Shlok Vimal Rathod; Mr Jay Prakash Kariya and Mr Meet Prakash Kariya

Today, shares of Madhuveer Com 18 Network Ltd jumped 5 per cent to Rs 32.55 per share from its previous closing of Rs 31 per share. The stock’s 52-week high is Rs 34.44 and its 52-week low is Rs 9.30. In the recent trading sessions, the stock is hitting back-to-back upper circuits with a spurt in volume by more than 1.40 times on BSE.

Madhuveer Com 18 Network Limited provides marketing and supply of pharmaceutical products. The company focuses on marketing pharmaceutical products, formulations, and ingredients to clients in India.

The company has a market cap of over Rs 30 crore with a 3-year stock price CAGR of 147 per cent. The company reported positive numbers in its Quarterly Results and annual results.

The stock gave multibagger returns of 218 per cent in just 6 months and a whopping 1,100 per cent in 3 years. Investors should keep an eye on this micro-cap stock.

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