Multibagger penny stock under Rs 50 with 1,500 per cent returns; Board announced bonus shares in ratio 2:1

The stock gave multibagger returns of 220 per cent in just 2 years and over 1,500 per cent returns in 3 years.

Rama Steel Tubes Ltd that the meeting of the Board of Directors of the company approved bonus shares in the ratio of 2:1 i.e., 2 fully paid-up bonus equity shares of Rs 1 each for every 1 fully paid-up equity share of Rs 1 each held by the members of the company as on the record date, subject to approval of members of the company through postal ballot. Record date to determine the eligible shareholders shall be decided and Intimate in due course of time to the exchange separately.

Increase in the authorised share capital of the company from Rs 55,00,00,000 to Rs. 200,00,00,000 subject to the approval of members of the company through postal ballot.

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 surged 1.69 per cent to Rs 46.20 per share with an intraday high of Rs 48.21 and an intraday low of Rs 44.39. The stock’s 52-week high is Rs 50.50 and its 52-week low is Rs 26.10

The company have a market cap of Rs 2,280 crore with a 3-year stock price CAGR of 130 per cent. The stock gave multibagger returns of 220 per cent in just 2 years and over 1,500 per cent returns in 3 years. Investors should keep an eye on this Small-Cap stock.