1,600 per cent returns in this multibagger stock; Board likely to announce rights issue!
The stock is up by 80 per cent in 2 years and over 1,600 per cent returns in 3 years.
Jaykay Enterprises Ltd inform that a meeting of the Board of Directors of the company is scheduled to be held on Sunday, July 09, 2023 to, inter alia, consider a proposal for raising funds by way of the issue of one or more instruments including equity shares/ convertible securities either by way of Preferential Issue/ Rights Issue/or any other mode as may be considered.
Jaykay Enterprises Ltd. manufactures synthetic yarn, fiber and fabrics. The Company's products include nylon filament yarn, polyester filament yarn, polyester staple fibers, industrial tire cord yarn/fabric and acrylic staple fiber. Jaykay also manufactures portland/pozzolana cement and white cement.
According to the financials, Jaykay Enterprises has a market cap of over Rs 350 crore and has delivered good profit growth of 53.20 per cent CAGR over the last 5 years. The net sales skyrocketed by 270 per cent to Rs 10.34 crore in Q4FY23 over Q4FY22. The net sales increased by 340 per cent to Rs 46.96 crore in FY23 over FY22. Also, the promotors of the company have increased their stake by 4.99 per cent in the last quarter.
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On Thursday, shares of Jaykay Enterprises Ltd surged 6.48 per cent to Rs 68.07 per share with an intraday high of Rs 68.99 and an intraday low of Rs 62.31.
The stock is up by 80 per cent in 2 years and over 1,600 per cent returns in 3 years. Investors should keep an eye on this micro-cap stock.