Back-to-Back Lower Circuits In This Multibagger Penny Stock Under Rs 10; Board Announces 5:1 Stock Split
The company has a market cap of Rs 53.5 crore and the stock gave multibagger returns of 107 per cent from its 52-week low of Rs 2.64 per share.
Shangar Decor Ltd. proposes to sub-divide its equity shares from a face value of Rs 5 each to Rs 1 each, resulting in a split ratio of 5:1. This sub-division aims to enhance liquidity and encourage wider participation of small investors in the stock market. The company's authorized share capital will remain unchanged at Rs. 50 Crore, while the issued, paid-up, and subscribed share capital will increase from 9,79,23,200 equity shares to 48,96,16,000 equity shares. The sub-division is subject to regulatory approvals and shareholder approval at an Extraordinary General Meeting. The expected completion time is approximately 2 months from the date of shareholder approval.
Established in 1970, Shangar Decor Ltd specializes in providing event-based services. Their offerings encompass a wide range of services, including online and offline solutions for social and cultural events. The company focuses on delivering customized experiences through unique wedding themes, pre-wedding decor for various functions, and event decoration for corporate and religious occasions.
Shangar Decor Ltd caters to a diverse clientele by offering a comprehensive suite of services. These include primary event services, pre-wedding decor for functions like Garba and Mehendi, corporate event decoration, and services for religious events. Additionally, the company provides specialized services such as light decor and catering, offering a complete solution for event planning and execution.
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On Tuesday, shares of Shangar Decor Ltd hit a 2 per cent lower circuit to Rs 5.46 per share from its previous closing of Rs 5.57 per share. The stock’s 52-week high is Rs 12.05 per share and its 52-week low is Rs 2.64 per share. The company has a market cap of Rs 53.5 crore and the stock gave multibagger returns of 107 per cent from its 52-week low of Rs 2.64 per share. Investors should keep an eye on this penny stock in upcoming trading sessions.
Disclaimer: The article is for informational purposes only and not investment advice.