SME Small-cap: The Board of Directors approved the preferential issue of up to 7,08,600 equity shares; Green energy stock with multibagger returns in 1 year!

This is an SME Small-Cap stock with a market capitalization of Rs 865 crore, the stock is currently trading at Rs 991.

Kotyark Industries Ltd announced yesterday that its Board of Directors approved the issuance of up to 7,08,600 equity shares on a preferential basis. This decision was made during a board meeting held on December 14, 2023.

To seek shareholder approval for the issuance, the company has also called an Extra-ordinary General Meeting (EGM) to be held on Saturday, January 6, 2024, through video conference or other audio-visual means. The meeting will also consider other matters as outlined in the Notice of EGM, which will be sent to all shareholders.

Additionally, the Board has:

• Appointed National Securities Depository Limited (NDSL) as the Remote E-Voting Agency for the EGM resolutions.
• Approved the appointment of M/s. Mittal V Kothari & Associates, Practising Company Secretaries, as Scrutinizer to ensure fair and transparent remote e-voting and voting at the EGM.

In the short term, the company has achieved a commendable 13.45 per cent growth in just one week. Furthermore, its robust performance is underscored by a solid 21.5 per cent increase over the past month. Impressively, the company has outperformed expectations with a remarkable 71.29 per cent growth over the last three months. Looking at the broader picture, Kotyark Industries has delivered multibagger returns of 138.71 per cent over the past year.

This is an SME Small-Cap stock with a market capitalization of Rs 865 crore. The stock is currently trading at Rs 991, 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 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.