Multibagger stock below Rs 150: Board is likely to announce bonus shares soon!

The stock is up by 15.88 per cent in 1 year and gave multibagger returns of 141.75 per cent in just 2 years.  

Today, shares of Party Cruisers Ltd surged 0.65 per cent to Rs 124 per share from its previous closing of Rs 123.20. The stock is up by 15.88 per cent in 1 year and gave multibagger returns of 141.75 per cent in just 2 years.  

The company informed that the Meeting of the Board of Directors will be held on Friday, March 10, 2023, inter-alia, to consider and approve the following business items: 1) The proposal for issuance of bonus shares subject to the approval of shareholders of the company and requisite approvals if any. 2) Increase in the authorized share capital of the company. 3) Any other business matters as may be permitted by the chair.  

Party Cruisers Ltd is a parent company running successfully for over three decades and went public on March 5, 2021, under the leadership of Mr Zuzer Lucknowala, CEO of Party Cruisers Limited. The Mumbai-based company is engaged in the business of wedding management and event management.  

This small-medium enterprise (SME) has a market cap of Rs 69.44 crore. The company reported positive numbers in both Quarterly Results and annual results. In FY22, net sales and net profit skyrocketed 75.12 per cent and 150.94 per cent respectively compared to FY21. In the fiscal year 2022–2023, the business lowered its debt and it is now almost debt-free.   

The stock has a 52-week high of Rs 353.90 and a 52-week low of Rs 86. Investors should keep an eye on this multibagger SME stock for upcoming trading sessions.