Don’t miss action in this multibagger stock that has announced rights issue!

The stock is up by 64.38 per cent in 1 year and gave multibagger returns of 383.05 per cent in the last 2 years.

Gokul Agro Resources Ltd, in its latest press release announced the rights issue to its shareholders in the ratio of 1:32. The company verified the record date for the rights issue as Wednesday, March 08, 2023.  

The issue price per right share is Rs 92. The company’s rights issue opening date is Thursday, March 16, 2023 and the closing date is Thursday, March 23, 2023. The total size is 44,71,011 fully paid-up Equity Shares having a face value of Rs 2 each at an issue price of Rs 92.  

On Friday, shares of Gokul Agro Resources Ltd surged 1.06 per cent to Rs 114 per share with an intraday high of Rs 114.80 and a low of Rs 112.55.   

Gokul Agro Resources Ltd is in the manufacturing and processing of various kinds of edible, non-edible oils and meals. The company has a manufacturing facility in Gandhidham, Gujarat, India.  

Talking about the financials, Gokul Agro Resources has a market cap of Rs 1,631.02 crore. The company reported positive results in both quarterly and annual financial statements. In Q3FY23, net sales rose by 1.86 per cent and net profit rose by 27.59 per cent over Q3FY22.  

The stock has a PE of 13.02x and an ROE of 27.50 per cent. The stock is up by 64.38 per cent in 1 year and gave multibagger returns of 383.05 per cent in the last 2 years. This stock should be kept under the radar.