6,500 per cent multibagger returns & Promoters bought 20,686 shares: Board announces bonus shares; scrip hit upper circuit & 52-week high!
The shares of the company have an ROE of 29 per cent and an ROCE of 37 per cent
Today, one of the Top Gainers on BSE, shares of M.K. Exim (India) Ltd hit 20 per cent upper circuit to Rs 149.50 per share from its previous closing of Rs 124.60. The stock also made a new 52-week high of Rs 149.50 per share. At the closing bell, shares of the company were trading at Rs 144.25 per share, up 15.77 per cent with a spurt in volume by more than 10.19 times on BSE.
The Board of Directors of M.K. Exim (India) Ltd informed that in the meeting, they approved bonus shares in the ratio of 1:2, i.e. 1 (One) equity share of Rs 10 each for every 2 (Two) equity shares of Rs 10 each. The company fixed the record date for bonus shares as Wednesday, January 17, 2024.
Additionally, a meeting of the board of directors of M.K. EXIM (INDIA) LIMITED is scheduled to be held on Thursday, January 18, 2024, to inter alia, to consider and approve the allotment of bonus equity Shares of the company in the proportion of 1:2 as approved by members by way of postal ballot and remote e-Voting initiated in terms of Postal Ballot Notice.
M.K. Exim (India) Ltd is engaged in the business of manufacturing textiles and fabric. It has also ventured into the distribution of cosmetic products. In the December quarter of 2023, the promoters of the company bought 20,686 shares or 0.08 per cent stake in the company.
The company has a market cap of Rs 388 crore and has delivered good profit growth of 103 per cent CAGR over the last 5 years. The company has a very little debt of Rs 2.43 crore which is 0.63 per cent of its current market cap. In its Quarterly Results and annual results, the company has reported excellent numbers. The shares of the company have an ROE of 29 per cent and an ROCE of 37 per cent
The stock gave multibagger returns of over 100 per cent from its 52-week low of Rs 72.50 per share, up by 1,826 per cent in 3 years and a whopping 6,500 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.
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