Debt-free penny stock under Rs 25 hit lower circuit; Board announces stock split from Rs 10 to Re 1
The shares of the company have a PE of 8x, an ROE of 23 per cent and an ROCE of 33 per cent.
Quasar India Limited has announced that its Board of Directors has approved a sub-division of its equity shares. Each existing share with a face value of Rs 10 will be divided into 10 shares with a face value of Re 1, increasing liquidity and making the shares more affordable for small investors. This sub-division is expected to be completed by November 11, 2024, subject to regulatory approval.
Quasar India Ltd, established in 1979, is a diversified trading company operating in the retail and wholesale markets. The company's extensive product range includes iron and steel, precious metals, minerals, textiles, and various other commodities. Quasar India Ltd also engages in trading, investing, and acquiring shares, stocks, and derivatives to support its core business activities.
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On Tuesday, shares of Quasar India Ltd hit a 2 per cent lower circuit to Rs 22.73 per share from its previous closing of Rs 23.19. The stock gave multibagger returns of over 100 per cent from its 52-week low of Rs 11.05 per share. The company has a market cap of Rs 12.17 crore and as of June 2024, the company is debt-free. The shares of the company have a PE of 8x, an ROE of 23 per cent and an ROCE of 33 per cent.
Disclaimer: The article is for informational purposes only and not investment advice.