15,000 per cent returns in this multibagger stock under Rs 50; Board announced rights issue!
The stock gave multibagger returns of 3,232 per cent in just 2 years whereas BSE small-cap Index is up by 22 per cent.
Cressanda Solutions Limited, an India-based company engaged in providing information technology (IT) announced rights issue in the ratio of 6:97. The issue price of the rights issue is Rs 20 per equity share (including a premium of Rs 19 per equity share). The company verified the record date for the rights issue as Friday, June 16, 2023. The issue opening date is Tuesday, June 27, 2023 and the issue closing date is Tuesday, July 11, 2023.
Additionally, the company reported fantastic numbers in its Quarterly Results and annual results. The net sales increased by 35,526 per cent to Rs 14.96 crore and the net profit increased by 798.12 per cent to Rs 1.91 crore in Q4FY23 over Q4FY22. The net sales increased by 46,796.80 per cent to Rs 86.76 crore and the net profit increased by 2,177.53 per cent to Rs 6.08 crore in FY23 over FY22.
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On Wednesday, shares of Cressanda Solutions Limited, plunged 1.33 per cent to Rs 28.99 per share with an intraday high of Rs 29.85 and an intraday low of Rs 28.50. The stock has a 52-week high of Rs 42.25 and a 52-week low of Rs 17.35.
The company is a small-cap company having a market cap of Rs 1,155 crore with a 5-year CAGR of 65 per cent. The stock gave multibagger returns of 3,232 per cent in just 2 years whereas BSE small-cap Index is up by 22 per cent. From Rs 0.19 per share to Rs 29.85 per share, the stock returned over 15,000 per cent in just 3 years. Investors should keep an eye on this IT stock under the radar.