1,700 per cent returns in this multibagger penny stock under Rs 20; Board announces bonus shares and stellar quarterly results!
The stock gave multibagger returns of 130 per cent in 2 years, 700 per cent in 3 years and over 1,700 per cent in 5 years.
Danube Industries Ltd informed that the Board of Directors of the company has recommended capitalizing a sum of up to Rs 6 crore, which will be transferred to the share capital account and used to issue and allot 3 crore fully paid-up bonus shares of Rs 2 each to eligible members holding Rs 2 equity shares. The bonus shares will be issued in the ratio of 1:1, meaning that for every 1 existing equity share held, the member will receive 1 new bonus share. The new bonus shares will be treated as an increase in the nominal amount of the equity share capital of the company held by each member.
Additionally, the company announced stellar Quarterly Results. The total revenue stood at Rs 16.14 crore, up 53.3 per cent, EBITDA stood at Rs 0.80 crore, up 166.7 per cent and Profit After Tax (PAT) stood at Rs 0.51 crore, up 61.3 per cent in Q1FY24 compared to Q1FY23.
Danube Industries Limited is a leading Indian IT hardware engineering company that provides mission-critical IT hardware products to customers, system integrators, enterprises, and others. The company is committed to using technology to keep businesses secure and safe. Danube is a high-value employer that fosters a culture of inclusion, belonging, and corporate citizenship.
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On Thursday, shares of Danube Industries zoomed 5 per cent upper circuit to Rs 16.25 per share from its previous closing of Rs 15.48. The shares of the company saw a spurt in volume by more than 7.90 times on BSE and hit back-to-back upper circuits in the recent trading session.
The stock gave multibagger returns of 130 per cent in 2 years, 700 per cent in 3 years and over 1,700 per cent in 5 years. Investors should keep an eye on this micro-cap stock. Disclaimer: The article is for informational purposes only and not investment advice.