High ROE & high ROCE multibagger stock: Board likely to announce bonus shares; scrip hit 52-week high!
The stock is up by 68 per cent in just 1 year and gave multibagger returns of over 1,100 per cent in 3 years.
D.P. Wires Ltd informed that a meeting of the Board of Directors of the company is scheduled to be held on Friday, September 29, 2023 at the registered office of the company, 16-18A, Industrial Estate, Ratlam (MP)-457001. Inter alia to transact the following business: -
1. To consider & approve the increase in authorized share capital.
2. To consider a proposal for the issue of bonus shares to the equity shareholders of the company in the ratio, as it may deem fit by way of capitalization of reserves, subject to the approval of shareholders.
3. To consider and approve other matters incidental thereto.
D P Wires Ltd is engaged in the manufacturing of steel wires, plastic products, laying of plastic films, acting as a commission agent and generation of power through windmills. The company has a market cap of Rs 930 crore and has delivered good profit growth of 33.1 per cent CAGR over the last 5 years. The company reported excellent numbers in its Quarterly Results and annual results.
DSIJ’s ‘Micro Marvel' service recommends micro-cap stocks with the potential to grow multifold in long run. If this interests you, do download the service details here.
On Wednesday, one of the Top Gainers, shares of D P Wires Ltd surged 12.48 per cent to make a new 52-week high of Rs 724.95 per share from its previous closing of Rs 644.50 per share. At the closing bell, shares of the company were trading at Rs 684.50 per share, up 6.21 per cent with 5,11,783 quantity traded on NSE.
The shares of the company have an ROE of 24 per cent and an ROCE of 32 per cent. The stock is up by 68 per cent in just 1 year and gave multibagger returns of over 1,100 per cent in 3 years. Investors should keep an eye on this micro-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.
Also Read - Ashish Kacholia gained Rs 22,89,68,546 from this multibagger small-cap stock in just 1 day; announces Rs 600 crore capex plan and 4,25,000 MTPA capacity by FY 2026!