Double Dhamaka! Board Announces 4:10 Bonus Shares & 10:1 Stock Split: Debt-Free Penny Stock Under Rs 75 To Keep Under Radar
The stock is up by 74 per cent from its 52-week low of Rs 40.23 per share and gave multibagger returns of 500 per cent in 2 years.
On Thursday, shares of Achyut Healthcare Ltd plunged 1.41 per cent to Rs 70 per share from its previous closing of Rs 71. The stock’s 52-week high is Rs 82.50 and its 52-week low is Rs 40.23.
The Board of Directors of the Company has approved the following proposals: 1) The subdivision of each existing equity share with a face value of Rs 10 into ten equity shares with a face value of Re 1 each, subject to shareholder approval. 2) A bonus issue in the ratio of 4:10, meaning that for every ten existing fully paid-up equity shares with a face value of Re 1 each, four new bonus equity shares with a face value of Re. 1 each will be issued. These proposals are intended to increase the liquidity of the Company's shares and enhance shareholder value. The record date for bonus shares and stock split is not yet fixed.
According to half-yearly results, the net sales increased by 44 per cent to Rs 2.13 crore and net profit increased by 35 per cent to Rs 1.48 crore in Q2FY25 compared to Q2FY24. In its annual results (FY24), the company reported net sales of Rs 6.14 crore and net profit of Rs 0.66 crore.
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About the Company
Incorporated in 1996, Achyut Healthcare Ltd is a pharmaceutical trading company dealing in API, pharmaceutical products, medical devices, etc. The company is also in the manufacturing of pharmaceutical formulations in the forms of tablets, capsules, oral liquids and injectables.
Achyut Healthcare, an SME stock, has a market cap of Rs 117.8 crore and as of June 2024, the company is debt-free. The stock is up by 74 per cent from its 52-week low of Rs 40.23 per share and gave multibagger returns of 500 per cent in 2 years. Investors should keep an eye on this penny stock.
Disclaimer: The article is for informational purposes only and not investment advice.