Bonus Shares Likely Tomorrow: Low PE penny stock under Rs 5 hit upper circuit after bagging single order from Mangalam Brands Pvt Ltd
The stock is down by 43 per cent from its 52-week high of Rs 3.77 while it is up by 82 per cent from its 52-week low of Rs 1.19 per share.
Mayukh Dealtrade Ltd. is pleased to announce that it has received a purchase order from Mangalam Brands Pvt Ltd for 10,000 units of the Mayukh Electric Kapoor Dani (Wooden). This single order is a significant milestone for the company and underscores the growing demand for its innovative products.
Additionally, Mayukh Dealtrade Limited has announced that its Board of Directors will convene on December 2, 2024, at the company's registered office to deliberate on a proposal for a bonus issue of shares to its shareholders. This decision, along with other matters approved by the Chairman, will be discussed and potentially approved during the meeting.
Mayukh Dealtrade Ltd, established in 1980, manufactures and sells burners. The company's product line includes camphor sticks and various aroma burners, such as Mantra Aroma Burner, Brilliance with Timer, and Navkar Mantra Aroma Burner. In July 2021, they launched the Brilliance with Timer aroma burner and expanded their business by acquiring a 60 per cent stake in Mayukh Medi Care Private Limited, a subsidiary focused on medical and general stores.
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On Friday, shares of Mayukh Dealtrade Ltd hit a 5 per cent upper circuit to Rs 2.16 per share from its previous closing of Rs 2.06 per share. The stock is down by 43 per cent from its 52-week high of Rs 3.77 while it is up by 82 per cent from its 52-week low of Rs 1.19 per share. The company has a market cap of Rs 26 crore and investors should keep an eye on this penny stock.
Disclaimer: The article is for informational purposes only and not investment advice.