1,300 per cent returns in this multibagger penny stock under Rs 5; Board allots 65,25,44,000 bonus shares after stellar results!
The stock gave multibagger returns of 106 per cent in just 1 year and of over 1,300 per cent in 3 years.
Sarveshwar Foods Limited (BSE Scrip Code: 543688; NSE Scrip Code: SARVESHWAR), incorporated in 2004 in Jammu & Kashmir, is engaged in the manufacturing, trading and export of Basmati rice, which is long grain rice with a fine texture; inform you that the Board of Directors of the company at their meeting held on i.e., Monday, September 18, 2023, inter-alia, considered and approved the following business items:
Allotted 65,25,44,000 Equity shares of Rs 1 each as fully paid bonus shares to the existing shareholders of the company as on record date i.e., September 15, 2023, in the ratio of 2:1 i.e., 2 equity shares for every 1 equity share having a face value of Rs 1 each held.
Post the above allotment, the paid-up equity share capital of the company would stand at Rs 97,88,16,000 divided into 97,88,16,000 equity shares of Rs 1 each. The said shares shall rank pari-passu with existing equity shares of the company in all respects.
Earlier, the company announced its stellar Quarterly Results wherein net sales increased by 44.58 per cent to Rs 187.68 crore and net profit increased by 60.26 per cent to Rs 2.90 crore in Q1FY24 compared to Q1FY23.
Sarveshwar Foods Limited (BSE Scrip Code: 543688; NSE Scrip Code: SARVESHWAR), incorporated in 2004 in Jammu & Kashmir, is engaged in the manufacturing, trading and export of Basmati rice, which is long grain rice with a fine texture. The company has a market cap of Rs 480 crore with a 3-year CAGR of 140 per cent.
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On Monday, shares of Sarveshwar Foods Ltd surged 1.03 per cent to Rs 4.90 per share from its previous closing of Rs 4.85 per share. The stock’s 52-week high is Rs 5.24 and its 52-week low is Rs 2.07.
The stock gave multibagger returns of 106 per cent in just 1 year and of over 1,300 per cent in 3 years. Investors should keep an eye on this micro-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.