52-week high alert in this multibagger stock; Board likely to announce bonus shares!
The stock gave multibagger returns of 390 per cent in just 1 year whereas BSE Sensex Index is up by 23.20 per cent.
On Wednesday, one of the gainers on BSE, shares of Indo Us Bio-Tech Ltd surged 2.90 per cent to Rs 352.95 per share from its previous closing of Rs 343. The stock also traded at a new 52-week high of Rs 369.95 per share.
Indo Us Bio-Tech Ltd informed that a meeting of the Board of Directors of the Company is scheduled to be held on Friday, July 07, 2023 at the Registered office of the company for the following business:
(1) To increase the authorized share capital of the company.
(2) To recommend the issue of bonus shares to the existing shareholders of the company.
(3) To call the extraordinary general meeting for the purpose of approval of the above agendas.
(4) Any other matter with the permission of the chair.
Indo Us Bio-Tech Limited is involved in the production of various types of agricultural crop seeds like vegetable seeds, pulses, cereals, oilseed marketings, and spice seeds. The shares of the company saw a spurt in volume by more than 1.50 times on BSE.
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According to the financials, the company has a market cap of over Rs 350 crore and has delivered good profit growth of 38 per cent CAGR over the last 5 years. Additionally, the company has reported amazing numbers in its Quarterly Results and annual results.
The stock gave multibagger returns of 390 per cent in just 1 year whereas BSE Sensex Index is up by 23.20 per cent. Over 5 years, the stock has delivered 910 per cent returns. Investors should keep an eye on this micro-cap stock.