200 per cent returns in just 6 months: Multibagger penny stock hits upper circuit as it's set to trade ex-split tomorrow, do you own it?
The stock gave multibagger returns of 183 per cent in just 3 months, up 200 per cent in 6 months and over 500 per cent in 3 years.
The stock markets were in a negative mood today, with the benchmark indices Sensex and Nifty trading lower. The Sensex is down by 0.40 per cent at 65,731.90, while the Nifty is down 0.42 per cent at 19,549.95. The sectoral indices were trading mixed, with the BSE Financial Services Index being one of the Top Losers. The index is down 0.50 per cent.
Despite being a weak market, shares of Mena Mani Industries Limited surged 2 per cent upper circuit to Rs 40.57 per share from its previous closing of Rs 39.78. The stock has a 52-week high of Rs 45.97 and a 52-week low of Rs 12.90.
The sudden rise in the stock price was due to the company approving a stock split / sub-division of 1 (One) equity share of the company having a face value of Rs 10 each into 10 (Ten) equity shares of the company having face value of Rs 1 each by altering the capital clause (Clause V) of the memorandum of association of the company as below:
Clause: V - The Authorized Share Capital of the Company is Rs 16,50,00,000 or Rs 16.50 crore, divided into 16,50,00,000 (16.50 crore) equity shares of Rs 1 each.
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Mena Mani Industries Ltd is in the business of trading biofuel and also carries out construction and other information technology activities. The firm has a market cap of Rs 40.71 crore with a 5-year CAGR of 25 per cent. The company reported positive numbers in its Quarterly Results and annual results.
The stock gave multibagger returns of 183 per cent in just 3 months, up 200 per cent in 6 months and over 500 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.