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

In just 6 months, the stock gave multibagger returns of 115.69 per cent.  

On Thursday, the Indian benchmark indices ended the day flat. NSE Nifty-50 Index was up by 20 points or 0.11 per cent at a level of 18,035.85.  IT stocks have seen heavy buying and are today it is one of the most outperforming sectors.  

One of the Top Gainers on NSE, shares of Innovana Thinklabs Limited ended the day locked in upper circuit, up 5 per cent to Rs 553.25 per share. In just 6 months, the stock gave multibagger returns of 115.69 per cent.  

Innovana Thinklabs Limited informed the exchange that it will issue bonus shares in the ratio of 1:1 which means that shareholders will receive 1 bonus share for each share held by the existing shareholder. Also, the company will increase the authorised capital from 11 crore to 21 crore.   

Innovana Thinklabs Ltd is engaged in the software and application development business, which directly provides services to create new applications and enhance the functionality of users and existing software products.  

Talking about the financials, the SME company has a market cap of Rs 567 crore. In FY22, net sales rose by 1.75 per cent and net profit rose by 31.25 per cent over FY21. The stock has a PE multiple of 27.8 whereas the sectoral PE multiple is 33.5 and an ROE of 26.7 per cent respectively. Investors should keep an eye on this IT stock.