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

In FY22, net sales rose by 27.48 per cent over FY21. In FY22, the company reported a net profit of Rs 14 crore compared to a net loss of Rs 103 crore in FY21.  

Today, shares of Praxis Home Retail Ltd surged 3.05 per cent to Rs 22.95 per share from its previous closing of Rs 22.27.   

The intraday high of the stock was Rs 23.45 and the low of Rs 22.10. The stock has a 52-week high of Rs 53.80 and a 52-week low of Rs 20.55.  

Recently, the Board of Directors of Praxis Home Retail, approved the raising of funds, through the issuance and allotment of equity shares of the face value of Rs 5 each equity shares for an aggregate amount less than Rs 50 crore, on a rights basis on such terms to the eligible equity shareholders of the company, as on the record date.   

Praxis Home Retail Ltd is engaged in the business of home retailing through departmental stores under various formats across the country. The company’s product portfolio includes home furnishings, furniture, tableware, home decor, kitchenware, bath vanity, modular kitchens and electronics.   

Praxis Home Retail has a market cap of Rs 173.66 crore. In FY22, net sales rose by 27.48 per cent over FY21. In FY22, the company reported a net profit of Rs 14 crore compared to a net loss of Rs 103 crore in FY21.   

Investors should keep an eye on this Small-Cap stock.