High ROE & High ROCE stock under Rs 30; Board likely to announce rights issue!
The shares of the company have a ROE of 34.48 per cent and a ROCE of 21 per cent.
Balkrishna Paper Mills Limited announced that a meeting of the Board of Directors of the company will be held on Monday, June 14, 2023 at the Registered Office of the Company at A/7, Trade World, Kamala City, S.B. Marg, Lower Parel (w), Mumbai - 400 013, interalia to consider and approve:
(1) Impact of qualified observation of auditor in the matter of going concern.
(2) Proposal for the right issue/funds raising.
On Friday, at the closing bell, shares of the company were traded in the red, down 0.15 per cent to Rs 27.05 per share. The stock traded at the day’s high of Rs 27.30 and the day’s low of Rs 26.80.
Balkrishna Paper Mills Limited (BPML) manufactures and markets paper products. The Company offers coated duplex boards which are used for packaging by pharmaceuticals, toiletries, cosmetics and health care, readymade garments, and food products industries.
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According to the financials, BPML has a market cap of Rs 29.05 crore with a 3-year CAGR of 26 per cent. The shares of the company have a ROE of 34.48 per cent and a ROCE of 21 per cent.
The stock has a 52-week high of Rs 50.75 per share and a 52-week low of Rs 23.05 per share. Investors should keep an eye on this micro-cap stock.