Multibagger stock under Rs 100: Board likely to announce bonus shares and stock split; share jumps 10 per cent!
The stock is up by 30 per cent in just 5 days and gave multibagger returns of 640 per cent in 3 years.
Today, one of the Top Gainers on NSE, shares of Sarveshwar Foods Ltd jumped 11.28 per cent to an intraday high of Rs 88.80 per share from its previous closing of Rs 79.80. The stock has a 52-week high of Rs 95.75 and a 52-week low of Rs 62.40. The shares of the company saw a spurt in volume by more than 3 times on BSE.
Sarveshwar Foods Limited BSE Scrip Code: 543688; NSE Scrip Code: SARVESHWAR), incorporated in 2004 in Jammu & Kashmir, is engaged in the manufacturing, trading and export of Basmati rice, which is long grain rice with a fine texture; announced that the meeting of the Board of Directors of the company is scheduled to be held on Wednesday, August 02, 2023, inter-alia, to consider and approve the followings items:
1. The proposal for sub-division/split of equity shares of the company having a face value of Rs 10 each in such manner as the Board may determine.
2. The proposal of issuance of bonus shares to the security holders of the company.
3. Increase in the authorised share capital of the company.
4. Consequent alteration of the Memorandum of Association (MoA) of the company.
5. Any other item with the permission of the Chairman.
Talking about the financials, Sarveshwar Foods has a market cap of Rs 265 crore with a 3-year stock price CAGR of 88 per cent. The company reported positive numbers in its Quarterly Results and annual results.
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The company reported net sales of Rs 129.81 crore in Q4FY23 compared to net sales of Rs 202.35 crore in Q4FY22 while the net profit increased by 81 per cent to Rs 1.81 crore in Q4FY23 over Q4FY22. The net sales increased by 14 per cent to Rs 689 crore and net profit skyrocketed by 167 per cent to Rs 8 crore in FY23 over FY22.
The stock is up by 30 per cent in just 5 days and gave multibagger returns of 640 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.