Rs 604 crore order book and FIIs & DIIs increase stake: Board of this multibagger vehicle construction company likely to announce stock split & dividend!

The stock gave multibagger returns of 240 per cent in just 1 year and a whopping 950 per cent in 3 years.

Sanghvi Movers Ltd informed that a meeting of the Board of Directors of the company will be held on Thursday, May 16, 2024, to consider the following businesses:

1. Standalone and consolidated audited financial results for the quarter and year ended on 31 March 2024.
    
2. The recommendation of dividend, if any, on equity shares for the financial year ended 31 March 2024, subject to the approval of shareholders at the ensuing AGM.
   
3. To consider and approve the proposal of sub-division/split of equity shares of the company, in such manner as may be determined by the Board of Directors along with other allied matters subject to the approval of the shareholders and other necessary approvals.

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Sanghvi Movers Ltd is a leading crane rental company in the world, offering a fleet of hydraulic and crawler cranes for various infrastructure projects. They boast the largest crane hiring operation in India and rank 5th globally, providing medium to large-sized cranes with lifting capacities ranging from 20 to 800 tons.

The company has a market cap of over Rs 5,600 crore and the order book as of December 31, 2023, stands at Rs 604 crore. As of March 2024, FIIs have increased their stake to 2.49 per cent and DIIs have increased their stake to 2.59 per cent compared to 1.47 per cent and 1.68 per cent, respectively in March 2023.

The stock gave multibagger returns of 240 per cent in just 1 year and a whopping 950 per cent in 3 years. This Small-Cap stock should be kept under the radar.

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