10,400 per cent multibagger returns: Board likely to announce bonus shares & stock split; Mukul Agrawal and Madhusudhan Kela collectively bought 50,000 shares!

The stock gave multibagger returns of 2,300 per cent in just 1 year and a whopping 10,400 per cent in 3 years.

Indian stock markets ended the trading sessions in red today (January 03, 2023), with the BSE Sensex Index down 0.75 per cent at 71,357 and the NSE Nifty-50 Index down 0.69 per cent at 20,267.9. About 2,194 shares have advanced, 1,643 have declined and 108 were unchanged on BSE.

Though the market was in red, this multibagger civil construction stock was locked in a 2 per cent upper circuit to Rs 9,899.30 per share. The stock also made a new 52-week high of Rs 9,899.30 per share.

The stock name is SG Mart Ltd. The company provides renewable energy generation services. The company operates solar and wind energy projects and generates electric power. SG Mart serves customers in India. The stock gave multibagger returns of 2,300 per cent in just 1 year and a whopping 10,400 per cent in 3 years.

The Board of Directors of the Company will be held on Monday, January 8, 2024, to, inter alia, consider and approve the following items:

(I) Unaudited financial results of the Company for the quarter and nine months ended on December 31, 2023.

(II) The proposal for sub-division/split of equity shares of the company having a face value of Rs 10 each in such manner as the board may determine.

(iii) The proposal of issuance of bonus shares to the equity shareholders of the company.

Earlier, two ace investors, Mukul Agrawal bought 30,000 shares and Madhuri Madhusudhan Kela bought 20,000 shares via preferential issue of shares of the face value of Rs 10 each at an issue price of Rs 5000 per equity share. Along with them, there were 88 other non-promoters which included individuals, DIIs, FPIs and FIIs were allocated the shares. The preferential issue was a total of 15,77,000 shares aggregating to Rs 788.50 crore.

According to the Quarterly Results, the net sales increased by 236 per cent to Rs 506.24 crore and net profit increased by 600 per cent to Rs 8.95 crore in Q2FY24 compared to Q1FY24. As of September 2023, promoters own a 75 per cent stake in the company and the rest of the stake is owned by the general public i.e., 25 per cent.

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