Amitabh Bachchan gains Rs 1,30,43,597 in just 1 day from this multibagger micro-cap stock: Board announces bonus shares; stock trades at high ROE & ROCE!
The shares of the company have an ROE of 24 per cent and an ROCE of 32 per cent.
Indian stock markets closed higher on Friday, with the BSE Sensex and NSE Nifty 50 indices both up 1.01 per cent at a level of 63,783 and 19,047 respectively.
In addition to the overall market gains, shares of a multibagger wires manufacturing company is trending. This company has given investors significant returns in the past years.
The stock name that created the excitement is none other than D P WIRES LIMITED.
bonus Update: The company's board of directors has approved a bonus share issue in the ratio of 1:7. This means that for every 7 equity shares that an investor holds on the record date, they will receive 1 additional equity share worth Rs 10. The company fixed the record date as Wednesday, November 8, 2023.
Buzzing Update: Amitabh Bachchan is a famous Indian actor and also invests in businesses, owns 2,81,112 shares or 2.07 per cent stake in the company as of September 2023. As of Friday’s closing, he gains Rs 1,30,43,597 in just 1 day from this multibagger micro-cap stock.
Financials: The company has a market cap of Rs 868.22 crore and has delivered good profit growth of 33.1 per cent CAGR over the last 5 years. The company reported excellent numbers in its Quarterly Results and annual results. The shares of the company have an ROE of 24 per cent and an ROCE of 32 per cent. The stock is up by 540 per cent in just 1 year and gave multibagger returns of over 1,000 per cent in 3 years.
On Friday, shares of the company gained 7.82 per cent to Rs 639.90 per share from its previous closing of Rs 593.50 per share with an intraday high of Rs 640.35 and an intraday low of Rs 612.90.
D P Wires Ltd is engaged in the manufacturing of steel wires, plastic products, laying of plastic films, acting as a commission agent and generation of power through windmills.
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Disclaimer: The article is for informational purposes only and not investment advice.
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