130 per cent multibagger returns from its 52-week low; Board announces first ever stock split!

The stock gave multibagger returns of over 130 per cent from its 52-week low of Rs 775 per share.

Indian Link Chain Manufacturers Ltd informed that a meeting of the Board of Directors of the company has approved a stock split in the ratio 1:10 i.e., existing one (1) equity share of the company having a face value of Rs 100 each fully paid-up will be sub-divided/split into Ten (10) equity shares having face value of Rs 10 (Rupees Ten Only) each fully paid-up. The company fixed the record date for the stock split as Wednesday, January 03, 2024.

The Indian Link Chain Manufacturers Ltd is a diversified manufacturing company, which produces steel link chains and sulphuric acid. The company has a market cap of Rs 8.93 crore. According to the shareholding pattern, promoters hold a majority stake of 55.40 per cent, followed by DIIs with 0.08 per cent. The remaining 44.52 per cent is held by the general public.

The stock last traded on December 19, 2023, on that day, shares of Indian Link Chain Manufacturers Ltd surged 5 per cent upper circuit to Rs 1,786.75 per share from its previous closing of Rs 1,701.7. The stock also made a new 52-week high of Rs 1,786.75 per share. Currently, the stock is not trading on the exchange, as its trading is restricted - on account of GSM stage 4.

The stock gave multibagger returns of over 130 per cent from its 52-week low of Rs 775 per share. Investors should keep an eye on this micro-cap stock.

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