1,200 per cent returns: This multibagger micro-cap company enters into an MoU with Navsari Agricultural University and allotted bonus shares!

The stock gave multibagger returns of 130 per cent in just 3 months whereas BSE Sensex Index is up by 4.93 per cent.

Indo Us Bio-Tech Ltd informed that the Company has entered into a memorandum of understanding (MOU) with Navsari Agricultural University for seed production and marketing of high-yielding and medium slender grain rice hybrid GRH-2.

Additionally, the Board of Directors at their Meeting held on September 01, 2023, at the registered office of the Company, has allotted 1,00,26,000 (one crore twenty-six thousand) bonus equity shares of face value Rs 10 (rupees ten only) each, to the equity shareholder entitled thereto as on August 29, 2023, being the record date fixed for the purpose.

Earlier, the company entered into a rate contract (RCO) with Chhattisgarh State Seed and Agriculture Development Corporation Limited for the supply of hybrid vegetable seeds.

On Monday, shares of Indo Us Bio-Tech Ltd plunged 6.23 per cent to Rs 248.50 per share from its previous closing of Rs 265.

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. 

According to the financials, the company has a market cap of over Rs 500 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 130 per cent in just 3 months whereas BSE Sensex Index is up by 4.93 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.

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