1,300 per cent returns in this multibagger stock; Board announced stock split of shares!
The stock gave multibagger returns of 121 per cent from its 52-week low of Rs 125 per share.
Jay Bharat Maruti Ltd informed that the Board of Directors of the company have approved the sub-division/split of existing equity shares of the company having a face value of Rs 5 each fully paid-up into equity shares having a face value of Rs 2 each fully paid-up subject to necessary approvals including the approval of the shareholders of the company. The Record Date for the stock split is fixed as Thursday, October 26, 2023.
Jay Bharat Maruti Limited in collaboration with Maruti Suzuki India Limited (MSIL), is the leading manufacturer of key auto components and assemblies such as exhaust systems, fuel fillers (fuel pipe), and suspension parts for passenger cars. Their manufacturing plants are located in Gurgaon, Bawal, Manesar (Haryana) and Gujarat.
According to the Quarterly Results, the company reported net sales of Rs 533.17 crore in Q1FY24 compared to net sales of Rs 554.24 crore in Q1FY23. The net profit decreased by 37.47 per cent from Rs 7.89 crore in Q1FY23 to Rs 5.17 crore in Q1FY24. In FY23, net sales increased by 12.70 per cent to Rs 2,344 crore and net profit increased by 35.71 per cent to Rs 38 crore compared to FY22.
On Tuesday, shares of Jay Bharat Maruti Ltd gained 2.09 per cent to Rs 271.55 per share with an intraday high of Rs 276 and an intraday low of Rs 267.3. This auto components company is a Small-Cap company having a market cap of Rs 1,176 crore. The shares of the company saw a spurt in volume by more than 2.73 times on BSE.
The stock gave multibagger returns of 121 per cent from its 52-week low of Rs 125 per share. The stock has delivered a stellar performance for investors, generating returns of 100 per cent in 6 months, 160 per cent in 3 years, and a whopping 1,300 per cent in 1 decade. Investors should keep an eye on this stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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