Multibagger penny stock under Rs 50 with 1,000 per cent returns; Board likely to announce bonus shares!

The stock gave multibagger returns of 180 per cent in just 2 years and over 1,000 per cent returns in 3 years.

Rama Steel Tubes Ltd that the meeting of the Board of Directors of the company is scheduled to be held on Wednesday, January 24, 2024, to consider and approve, inter-alia, the following:

To consider the proposal of issuance of fully paid bonus equity shares to the members of the company.

To consider the proposal of an increase in the authorized share capital of the company and subsequent alteration to the memorandum of association of the company. If needed.  

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 0.95 per cent to Rs 39.02 per share with an intraday high of Rs 39.37 and an intraday low of Rs 38.39.

The company have a market cap of Rs 1,925 crore with a 3-year stock price CAGR of 130 per cent. The stock gave multibagger returns of 180 per cent in just 2 years and over 1,000 per cent returns in 3 years. Investors should keep an eye on this Small-Cap stock.

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