5:1 Stock Split Announced: Debt-Free Multibagger Penny Stock Under Rs 40 to Keep Under the Radar
The stock is up by 71.71 per cent from its 52-week low of Rs 19.80 and gave multibagger returns of 280 per cent in 3 years.
Real Eco-Energy Limited’s board of directors proposed a stock split to increase the stock's affordability and attract a wider range of investors. If approved by shareholders, each existing share with a face value of Rs 10 will be sub-divided into five shares with a face value of Rs. 2 each (Ratio is 5:1). The total number of shares will increase, but the overall company value (share capital) of Rs 25 crore will remain unchanged. This process is expected to take about three months to complete.
Real Eco-Energy Limited, an Indian company founded in 1993, juggles multiple industries. Their core business is real estate construction, but they also have a media arm involved in news broadcasting and digital marketing. Additionally, the company has a segment focused on bio-diesel minerals, suggesting they may be involved in the production of biofuels or renewable resources.
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On Wednesday, shares of Real Eco-Energy Limited plunged 0.44 per cent to Rs 34 per share from its previous closing of Rs 34.15 per share with an intraday high of Rs 34.90 and an intraday low of Rs 33.35. The stock’s 52-week high is Rs 43.89 and its 52-week low is Rs 19.80.
The company has a market cap of Rs 68 crore and as of March 31, 2024, the company is debt-free. The company reported net sales of Rs 0.31 crore in FY24 and net profit increased by 850 per cent to Rs 0.19 crore in FY24 compared to Rs 0.02 crore in FY23. The stock is up by 71.71 per cent from its 52-week low of Rs 19.80 and gave multibagger returns of 280 per cent in 3 years and investors should keep an eye on this micro-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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