9,600 per cent returns in this penny stock: This multibagger hardware & glass fitting company incorporates a new subsidiary after bonus shares & stock split!
9,600 per cent returns in this penny stock: This multibagger hardware & glass fitting company incorporates a new subsidiary after bonus shares & stock split!
Hardwyn India Ltd, a leading trader and manufacturer of architectural hardware and glass fittings, announced that the Board of Directors of the company incorporated a new subsidiary in the name and style, ‘SLIMX INTERIOR SOLUTIONS PRIVATE LIMITED’ Registrar of Companies (Delhi), being subscribers and making an investment of Rs 20,00,000 (2,00,000 equity shares of Rs 10 each), of which Rs 17,00,000 (1,70,000 equity shares of Rs 10 each) shall be subscribed in the very name of the company.
Earlier, the company implemented a trading phase where ex-bonus shares were traded at a ratio of 1:3 and an ex-stock split took place at a ratio of 10:1 for the equity shareholders based on the record date. The company has set Monday, June 05, 2023, as the fixed record date for both the bonus share and stock split.
Additionally, the company drafted a scheme of amalgamation with FIBA HARDWYN LOCKS LIMITED, having its registered office at C-147 Mayapuri Indl Area Phase II New Delhi110064, engaged in the Manufacturing of fabricators, cutters moulder and allied business to deal in the hardware industry.
Hardwyn India Ltd, listed on both BSE and NSE, specializes in manufacturing architectural hardware and glass fittings for residential and commercial structures, providing comprehensive solutions. The company boasts a market capitalization of Rs 1,320 and reported positive numbers in its Quarterly Results & annual results.
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On Friday, shares of Hardwyn India plunged 0.50 per cent to Rs 37.79 per share with an intraday high of Rs 38.50 and an intraday low of Rs 37.10. The stock’s 52-week high is Rs 57 and its 52-week low is Rs 13.44.
The stock is up by 90 per cent in just 1 year and gave multibagger returns of 5,300 per cent in 3 years & a whopping 9,600 per cent in 3 years. Investors should keep an eye on this Small-Cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.