2:5 Bonus Share: Multibagger Penny Stock Under Rs 50; Company signs an MoU with The Gyalsung Infra, Bhutan
The stock gave multibagger returns of 700 per cent in 3 years and a whopping 6,295 per cent since its listing.
On Monday, shares of Hardwyn India Ltd plunged 0.03 per cent to Rs 31.97 per share with an intraday high of Rs 32.55 per share and an intraday low of Rs 31.98 per share from its previous closing of Rs 31.98 per share. The stock's 52-week high is Rs 52 per share and its 52-week low is Rs 26 per share.
Hardwyn India Ltd., a leading provider of architectural hardware, kitchen hardware, and glass fittings, has taken a significant step forward in its global expansion. The company recently signed a Memorandum of Understanding (MOU) with The Gyalsung Infra, a prominent construction company in Bhutan. This strategic partnership will see Hardwyn India Ltd. supply a wide range of products for various renovation and construction projects undertaken by The Gyalsung Infra over the next two years. This collaboration is expected to be worth approximately Rs 5 crore.
This MOU marks a significant milestone for Hardwyn India Ltd., as it allows the company to tap into the burgeoning Bhutanese market. By providing high-quality products and solutions, Hardwyn India Ltd. aims to contribute to the development and modernization of Bhutan's infrastructure. This partnership aligns with the company's vision of becoming a global leader in the hardware industry and underscores its commitment to delivering exceptional value to its customers.
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Hardwyn India Ltd, listed on both BSE and NSE, specializes in manufacturing architectural hardware and glass fittings for residential and commercial structures, providing comprehensive solutions. The company boasts a market capitalization of over Rs 1,100 crore.
According to Quarterly Results, the net sales increased by 62 per cent to Rs 51.65 crore and net profit increased by 201 per cent to Rs 4.04 crore in Q2FY25 compared to Q2FY24. In its half-yearly results, the net sales increased by 35 per cent to Rs 92.57 crore and net profit increased by 108 per cent to Rs 5.38 crore in H1FY25 compared to H1FY24.
The Board of Directors of the Company approved the issuance of 13,95,52,587 bonus equity shares in a 2:5 ratio to existing shareholders. This translates to two new fully paid-up equity shares for every five existing shares held on the record date. To accommodate this increase in share capital, the authorized share capital of the company will be raised from Rs 35,10,00,000 to Rs. 50,00,00,000, comprising 50 crore equity shares with a face value of Re. 1 each. These new shares will rank equally with the existing equity shares of the company.
The stock gave multibagger returns of 700 per cent in 3 years and a whopping 6,295 per cent since its listing. Investors should keep an eye on this Small-Cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.