200 per cent returns this multibagger stock; Board announced bonus shares!
The stock is up by 72 per cent in just 1 month and generated multibagger returns of over 200 per cent in 1 year.
On Tuesday, one of the Top Gainers on BSE, shares of Focus Business Solutions Ltd jumped 20 per cent upper circuit to Rs 103.20 per share from its previous closing of Rs 86. The stock also traded at a new 52-week high of Rs 103.20 per share. Recently, the stock is hitting back-to-back upper circuits and 52-week highs.
The company's stock price surged after it announced that the Board of Directors of the company has approved bonus shares in the ratio of 4:5 i.e., 4 (Four) bonus equity shares of Rs 10 each for every 5 (Five) fully paid-up equity shares of Rs 10 each held by the Members of the company as on the record date, in place of 5:4, subject to the approval of the members of the company.
Focus Business Solution Ltd in the business of recovery and collections for banks and financial institutions. The company has a market cap of 22.93 crore.
Want more insightful stories along with recommendations?
Get a 3-month subscription to experience the power of our flagship DSIJ Magazine (online edition) for just Rs 800/- Click here to subscribe now
Additionally, the company reported excellent numbers in its half-yearly and annual results. The net sales increased by 27.50 per cent to Rs 9.85 crore and net profit skyrocketed 325 per cent to Rs 0.34 crore in H2FY23 compared to H2FY22.
The stock is up by 72 per cent in just 1 month and generated multibagger returns of over 200 per cent in 1 year. Investors should keep an eye on this micro-cap stock.