570 per cent returns in this multibagger stock; Board likely to announce bonus shares!

The stock gave multibagger returns of 570 per cent in just 1 year.

Giriraj Civil Developers Ltd informed that a meeting of the Board of Directors of the company is scheduled to be held on Monday, August 28, 2023, at the registered office of the company, inter alia, to consider and approve the following:

1. The proposal for raising capital by further issue of equity shares by way of private placement/ preferential issue etc.

2. To declare bonus equity shares to the existing equity shares.

3. Any other business with the permission of the chair.

Giriraj Civil Developers Ltd is engaged in the business of civil construction of building roads, bridges, foot overbridges, earthworks, and numerous other Infrastructure Constructions.

On Friday, shares of Giriraj Civil Developers Ltd zoomed 5 per cent upper circuit to Rs 724.50 per share from its previous closing of Rs 690. The stock also made a new 52-week high of Rs 724.50 per share.

The company has a market cap of over Rs 290 crore with a 3-year stock price CAGR of 218 per cent. According to the half-yearly results, the net sales increased by 51.25 per cent to Rs 62.01 crore and net profit increased by 51 per cent to Rs 2.88 crore in H2FY23 compared to H2FY22. In FY23, the net sales increased by 14.50 per cent to Rs 95.13 crore and net profit increased by 18.73 per cent to Rs 4.50 crore compared to FY22.

The stock gave multibagger returns of 570 per cent in just 1 year. Investors should keep an eye on this micro-cap stock.

Disclaimer: The article is for informational purposes only and not investment advice.