Penny stock under Rs 70 hit upper circuit with heavy volume as Board is likely to announce stock split!
The stock is up by 52 per cent from its 52-week low of Rs 44.07 per share.
Vivid Mercantile Ltd informed that a Meeting of the Board of Directors of the company will be held on Thursday, September 05, 2024, at the registered office of the company; inter alia:
1. To fix the date and time of the ensuing Annual General Meeting of the company.
2. To consider and approve the Directors report and notice of AGM.
3. To consider the Increase in authorized capital of the Company.
4. To consider and approve the proposal of sub-division/ stock split of the equity shares of the company in such manner as may be determined by the Board of Directors.
5. To consider any other business matter with the permission of the Chairperson.
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Vivid Mercantile Ltd, established in 1994, has transitioned from graphic designing and printing to real estate development. The company's current focus is on identifying and acquiring land, developing residential properties and infrastructure, and marketing these projects. Their current undertaking involves a land development and plotting project in Ahmedabad, spanning approximately 7.34 hectares. The company is actively engaged in levelling and landfilling work as a precursor to plotting and boundary creation, to sell plots of varying sizes to meet customer preferences.
On Friday, shares of Vivid Mercantile Ltd were locked in a 5 per cent upper circuit to Rs 66.99 per share from its previous closing of Rs 63.80 per share. The shares of the company saw a spurt in volume by more than 3 times on BSE. The stock is up by 52 per cent from its 52-week low of Rs 44.07 per share. The company has a market cap of Rs 67.16 crore and investors should keep an eye on this micro-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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