3,000 per cent returns in this multibagger stock; Board likely to announce bonus shares!
The stock gave multibagger returns of 3,000 per cent over the period of 3 years whereas BSE Small-Cap Index is up just up by 120 per cent.
Tinna Rubber and Infrastructure Limited (BSE: 530475), India’s largest integrated waste tyre recycler, has announced that a meeting of the Board of Directors of the Company will be held on Saturday, July 29, 2023 to consider and approve inter-alia the following: -
1) To approve the unaudited financial results of the company for the quarter ended on June 30, 2023 along with a limited review report.
2) To consider and approve the issuance of bonus shares to the equity shareholders of the company.
3) To increase the authorized share capital of the company from Rs 10 crore to Rs 20 crore.
4) To consider and approve the alteration in the Memorandum of Association and Article of Association of the Company.
On Friday, one of the Top Gainers on BSE, shares of Tinna Rubber and Infrastructure Ltd surged 10 per cent to an intraday high of Rs 619.90 per share from its previous closing of Rs 563.60. At the closing bell, shares of the company were trading at Rs 603.20 per share, up 7.03 per share with a spurt in volume by more than 2.90 times on BSE.
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Recently, the company entered into an agreement for the purchase of land with Indus Project Ltd and paid approx. Rs 10 crore under the memorandum of agreement.
Furthermore, the company has introduced a new plant at our existing Panipat facility dedicated to the production of Thermo Plastic Elastomer (TPE). The estimated investment for the project is Rs 2.50 crore.
Talking about the financials, Tinna Rubber and Infra has a market cap of Rs 517 crore. The company reported amazing numbers in its Quarterly Results and annual results. The shares of the company have a PE of 20x, a ROE of 25.10 per cent and a ROCE of 25 per cent.
The stock gave multibagger returns of 3,000 per cent over the period of 3 years whereas BSE Small-Cap Index is up just up by 120 per cent. Investors should keep an eye on this micro-cap stock under their watchlist.