Rs 303.87 crore order book: Board likely to announce bonus shares, stock gained over 1,500 per cent in just one year!

Shares of this company have gained more than 200 per cent in the last six months.

RMC Switchgears Limited informed in the exchange filing that the meeting of the board of directors of the company is scheduled to be held on Saturday, September 02, 2023. The board is expected to consider the proposal for the issue of bonus Shares to the Equity Shareholders of the company. As well as to consider and approve the Employee Stock Purchase Scheme (ESPS) for the Employees of the company.

The company recently entered into a Memorandum of Understanding (MoU) with Radius Synergies International Private Limited. The primary aim of the collaboration is to foster knowledge sharing and capacity building in the Electricity Distribution and Energy Sector.

And extend their efforts towards achieving the common goal of providing IT automation-based software, hardware, solutions, and services in the domains of Extra High Tension (EHT), High Tension (HT), Low Tension (LT), and consumer metering to a wide array of Electricity Distribution Companies worldwide.

RMC Switchgears Limited has delivered multibagger returns to its shareholders in the last one year. During this period, shares of RMC Switchgears surged from Rs 45.00 on August 30, 2022, to Rs 710.35 on August 30, 2023, an increase of about 1,500 per cent in one year holding period.

RMC Switchgears is primarily engaged in the business of designing and manufacturing enclosures of energy meters, LT/HT distribution boxes and panels, junction boxes, feeder pillars and other power distribution and circuit protection switchgear.

Disclaimer: The article is for informational purposes only and not investment advice.