1,200 per cent returns: This multibagger FMCG stock is set to trade ex-bonus tomorrow; do you own it?
The stock gave multibagger returns of 520 per cent in just 1 year whereas BSE Sensex Index is up by 10.7 per cent.
The Indian stock markets opened on a positive note today, with the benchmark indices Sensex and Nifty rising. The Sensex gained 0.25 per cent at 65,050, while the Nifty is up by 0.26 per cent at 19,316. About 2,103 shares have advanced, 1,442 have declined, and 214 were unchanged on BSE.
Today, shares of Indo Us Bio-Tech Ltd plunged by 1.40 per cent to Rs 519.85 per share, reaching an intraday high of Rs 519.85 and a low of Rs 513. The stock's 52-week high stands at Rs 585, while its 52-week low is Rs 88.
The Board of Directors of Indo Us Bio-Tech Ltd recommended a bonus issue of equity shares in the ratio of 1 new equity share of Rs 10 each for every 1 existing equity share of Rs 10 each held by the company's shareholders as of the record date, subject to shareholder approval. The company set the record date for Tuesday, August 29, 2023.
Earlier, the company entered into a Rate Contract (RCO) with Chhattisgarh State Seed and Agriculture Development Corporation Limited, referring to RCO-62/2023-24/5401, for supplying hybrid vegetable seeds. This RCO signifies a significant collaboration that aligns with business objectives.
Indo Us Bio-Tech Limited is involved in the production of various types of agricultural crop seeds like vegetable seeds, pulses, cereals, oilseed marketings, and spice seeds.
DSIJ’s 'multibagger Pick’ service recommends well researched multibagger stocks with High Returns potential. If this interests you, do download the service details here.
According to the financials, the company has a market cap of Rs 521.20 crore and has delivered good profit growth of 37.9 per cent CAGR over the last 5 years. Additionally, the company has reported amazing numbers in its Quarterly Results and annual results.
The stock gave multibagger returns of 520 per cent in just 1 year whereas BSE Sensex Index is up by 10.7 per cent. Over the span of 3 years, the stock has delivered 1,200 per cent returns. Investors should keep an eye on this micro-cap stock.