Don’t miss action in this multibagger stock that announced bonus shares!

In the fiscal year 2022–2023, the business lowered its debt and it is now almost debt-free.

Party Cruisers Ltd announced that The Board of Directors of the company has approved bonus shares in the ratio of 1:1 i.e., 1 (one) bonus shares for every 1 (one) fully paid-up equity shares of Rs 10 (Rupees Ten) each, as of record date. The company fixed the record date as Tuesday, April 18 2023 for consideration of bonus issue of shares.

After rising nearly 438 per cent over the period of 2 years, shares of Party Cruisers Ltd are undergoing a correction and have hit the lower circuit for the second straight day. On Thursday, shares of Party Cruisers Ltd plunged 5 per cent to Rs 101.65 per share from its previous closing of Rs 107.

Party Cruisers Ltd is a parent company running successfully for over 3 decades and went public on March 5, 2021, under the leadership of Mr Zuzer Lucknowala, CEO of Party Cruisers Limited. The company is a Mumbai-based company engaged in the business of wedding management and event management.

This small-medium enterprise (SME) has a market cap of Rs 69.44 crore. The company reported positive numbers in both Quarterly Results and annual results. In FY22, net sales and net profit skyrocketed 75.12 per cent and 150.94 per cent respectively compared to FY21. In the fiscal year 2022–2023, the business lowered its debt and it is now almost debt-free.

The stock has a 52-week high of Rs 353.90 and a 52-week low of Rs 86. Investors should keep an eye on this multibagger SME stock for upcoming trading sessions.