9,200 Per Cent Multibagger Returns: Board Of This Civil Construction Company Is Likely To Announce Bonus Shares & Proposal For Raising Funds Via Preferential Issue
The stock gave multibagger returns of 2,530 per cent in 3 years and a whopping 9,200 per cent in 5 years.
Giriraj Civil Developers Limited, a well-known government civil contractor in India, informed that the meeting of the Board of Directors is scheduled to be held on Monday, 21st October 2024 at the Registered office of the company at 1:00 p.m. to inter-alia, discuss, consider, and approve the following business:
- Proposal for Director Report for the F.Y. 2023-24.
- Proposal for increase in the authorized share capital of the company and amended in memorandum of association due to increase in authorized share capital.
- Proposal for raising funds by issuance of equity shares through permissible modes including by way of private placement, including through preferential issues and approving ancillary actions for the above-mentioned fundraising subject to such regulatory/statutory approvals as may be required.
- Proposal for the issuance of bonus shares to the shareholders of the company.
- Proposal for fixing date, time, and venue for the 19th Annual General Meeting of the company for the year ended on March 31, 2024.
- Any other items with the permission of the chair.
Additionally, the company has been awarded a significant new contract worth approximately Rs 181.45 crore by North Central Railway, Gwalior. This project involves a major upgrade of the Khajuraho Railway Station using an Engineering, Procurement and Construction (EPC) contract. It is important to note that this contract is not considered a related party transaction, and the company's promoters or their groups do not have any stake in the entities that awarded this contract.
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Giriraj Civil Developers Ltd is a civil construction company in India specializing in infrastructure projects like building roads (using RCC concrete), bridges (both rail and road), foot overbridges, earthworks (processing soil and rock), and even buildings, towers, and malls. Their clients include various divisions of Indian Railways (Southern Railways, Central Railways etc.) and municipal corporations. They also collaborate with joint venture firms like Dev Engineers & Giriraj, Moksha Constructions Giriraj, Giriraj-KK JV, and Prime-Giriraj-KK (JV).
On Monday, shares of Giriraj Civil Developers Ltd plunged 0.49 per cent to Rs 409 per share from its previous closing of Rs 411. The stock’s 52-week high is Rs 1,001.70 and its 52-week low is Rs 325.80. The company has a market cap of over Rs 970 crore with a 3-year stock price CAGR of 175 per cent. The stock gave multibagger returns of 2,530 per cent in 3 years and a whopping 9,200 per cent in 5 years. Investors should keep an eye on this Small-Cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.