3,000 per cent returns in this multibagger stock under Rs 50: This small-cap stock to trade ex-rights issue tomorrow!
From Rs 0.19 per share to Rs 29.85 per share, the stock returned over 15,000 per cent in just 3 years.
Cressanda Solutions Limited, an Indian IT company, has announced a rights issue in the ratio of 6:97. The rights issue will be priced at Rs 20 per equity share, including a premium of Rs 19 per equity share. The company has set Friday, June 16, 2023, as the record date for the rights issue. The issue will open on Tuesday, June 27, 2023, and close on Tuesday, July 11, 2023.
Additionally, the company reported fantastic numbers in its Quarterly Results and annual results. The net sales increased by 35,526 per cent to Rs 14.96 crore and the net profit increased by 798.12 per cent to Rs 1.91 crore in Q4FY23 over Q4FY22. The net sales increased by 46,796.80 per cent to Rs 86.76 crore and the net profit increased by 2,177.53 per cent to Rs 6.08 crore in FY23 over FY22.
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On Thursday, shares of Cressanda Solutions Limited gained 0.55 per cent to Rs 29.45 per share with an intraday high of Rs 30 and an intraday low of Rs 29.10. The stock has a 52-week high of Rs 42.25 and a 52-week low of Rs 17.35.
The company is a small-cap company having a market cap of Rs 1,174 crore with a 5-year CAGR of 64 per cent. The stock gave multibagger returns of over 3,000 per cent in just 2 years whereas BSE small-cap Index is up by 22 per cent. From Rs 0.19 per share to Rs 29.85 per share, the stock returned over 15,000 per cent in just 3 years. Investors should keep an eye on this IT stock under the radar.