SME Small-cap: Proposal for raising funds propels this oil & gas stock to hit fresh 52-week high, stock price zoomed 11 per cent in a day!

This is a SME small-cap stock with market capitalization of Rs 805 crore. The stock is currently trading at Rs 974.

The Board of Directors of Kotyark Industries Limited has announced a meeting to be held on Thursday, December 14, 2023. The meeting will address key matters, including:

Proposal for Raising Funds: The Board will discuss, consider, and potentially approve a proposal to raise funds through the issuance of equity shares or convertible warrants. This offering could be targeted towards either promoters or public category shareholders on a preferential basis, subject to regulatory and statutory approvals, including shareholder consent.

The Board may also consider and discuss any other items deemed pertinent by its members.

The specific details of the proposed equity offering, including the amount to be raised and the pricing structure, will likely be discussed and finalized during the upcoming meeting. Further information will be disseminated to shareholders and the public upon the conclusion of the Board meeting.

In the short term, the company has achieved a commendable 24.62 per cent growth in just one week. Furthermore, its robust performance is underscored by a solid 17.49 per cent increase over the past month. Impressively, the company has outperformed expectations with a remarkable 60.94 per cent growth over the last three months. Looking at the broader picture, Kotyark Industries has delivered a multibagger returns of 140.52 per cent over the past one year.

This is an SME Small-Cap stock with a market capitalization of Rs 805 crore. The stock is currently trading at Rs 974, with the company having a good return on equity (ROE) track record where it delivered an ROE of 35.7 per cent in the last 3 years maintaining a healthy dividend payout of 19.1 per cent.

About Company

Kotyark Industries Limited (Formerly knows as Kotyark Industries Private Limited) is serving towards renewable green energy and sustainable development of renewable natural resources (BioFuels) and through the adoption of environmentally friendly technology that favours the net reduction of greenhouse gas emissions for use in a vehicle for public and private transport as well as various equipment and Gen Sets.

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