High ROE & high ROCE multibagger stock under Rs 120; Board likely to announce stock split; Meeting on May 10, 2024

The shares of the company have an ROE of 48 per cent and an ROCE of 45 per cent.

Avonmore Capital & Management Services Limited will hold a meeting of its Board of Directors on Friday, May 10, 2024. The board will consider, among other things, a proposal to subdivide (stock split) the company's equity shares. This would involve dividing each existing share into a number of smaller shares. Additionally, the board will consider changes to the company's Memorandum and Articles of Association, which are the documents that define the company's purpose and operational rules. If the board approves this proposal, it will then be presented to the company's shareholders for their approval through a postal ballot.

Avonmore Capital & Management Services Ltd, founded in 1992, is a non-banking financial company in India. They offer a wide range of services including corporate loans, advisory services for investments and infrastructure, wealth management, broking services, and even technical and consultancy services for infrastructure projects. They also have a commodity trading platform and are involved in healthcare, providing diagnostic and treatment services for eye disorders.

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Today, shares of Avonmore Capital & Management Services Ltd gained 1.92 per cent to Rs 113.95 per share from its previous closing of Rs 111.79 per share. The stock’s 52-week high is Rs 130.01 and its 52-week low is Rs 61.93. The shares of the company saw a spurt in volume by more than 1.50 times on BSE.

The shares of the company have an ROE of 48 per cent and an ROCE of 45 per cent. The stock is up by 84 per cent from its 52-week low of Rs 61.93 per share and gave multibagger returns of over 500 per cent in 3 years.

Disclaimer: The article is for informational purposes only and not investment advice.