7,000 per cent multibagger returns; Board likely to announce bonus shares & stock split!

The stock gave multibagger returns of 400 per cent in just 1 year, 4,600 per cent in 3 years and a whopping 7,000 per cent in 5 years.

Lorenzini Apparels Ltd informed that the Board of Directors of the company will hold a meeting on Monday, February 12, 2024, interalia to transact the following businesses:

1. To consider the stock split of equity shares of the company and consequent amendment to the capital clause of the memorandum of association of the company, subject to the approval of the shareholders and other necessary approvals, to give effect to the said changes.
2. To consider the proposal for the issue of bonus shares to the equity shareholders of the company, subject to the approval of the shareholders.
3. To consider and increase the authorised share capital of the company up to the amount as may be determined and approved by the board. subject to the approval of the shareholders.
4. To consider and discuss any other items as may be decided by the chairman.

Today, shares of Lorenzini Apparels Ltd hit a 5 per cent upper circuit to Rs 355.70 per share in the pre-opening session from its previous closing of Rs 338.80. The stock also made a fresh new 52-week high of Rs 355.70 per share.

Lorenzini Apparels Ltd., established in 2007, designs, manufactures, and markets ready-made garments for men and women through their own "Monteil" brand, offering formal, semi-formal, and casual wear, both in their own exclusive stores and online, while also utilizing third-party contractors for some garment production. The company has a market cap of Rs 340 crore.

The stock gave multibagger returns of 400 per cent in just 1 year, 4,600 per cent in 3 years and a whopping 7,000 per cent in 5 years. Investors should keep an eye on this micro-cap stock.

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