Multibagger stock below Rs 60: Don't miss action in this stock that has announced rights issue!

From the time it was listed until today, the stock has supplied multibagger returns of 1373 per cent.

One of the gainers on BSE today, shares of Raj Oil Mills Ltd surged 5 per cent upper circuit to Rs 58.80 per share from its previous closing of Rs 56. The stock has a 52-week high of Rs 95.55 and a 52-week low of Rs 53.75. 

Recently, the company informed the exchanges that it has announced rights issue to the company's existing shareholders in the ratio 1:1 as of the record date. The issue price for the rights is Rs 30 per fully paid-up equity share. The record date for the rights issue has been confirmed as Thursday, February 9, 2023. 

Raj Oil Mills Limited is an edible oil manufacturing company. It is engaged in manufacturing and trading edible oils, oilseeds, and other related products. Today, shares of the company saw a spurt in volume by more than 6.40 times on BSE. 

Talking about the financials, Raj Oil Mills Ltd has a market cap of Rs 88 crore. The company reported positive results in both quarterly and annual financial statements. In Q2FY23, the firm did net sales of 30.97 crore and a net profit of 0.89 crore.  

The company’s share was listed on BSE & NSE in October 2020. From the time it was listed until today, the stock has supplied multibagger returns of 1373 per cent. Investors should keep an eye on this FMCG stock.