LIC gains Rs 1,77,38,693 from this multibagger penny stock: Board announces 1:1 bonus share; scrip hit back-to-back upper circuit & 52-week high!
The stock gave multibagger returns of 634 per cent in just 2 years and a whopping 2,200 per cent in 3 years.
The Indian benchmark indices ended the trading session in red, the BSE Sensex Index is down by 0.50 per cent and the NSE Nifty-50 Index is down by 0.45 per cent.
Though the market was in blood red, a multibagger penny stock from the FMCG sector backed by the Life Insurance Corporation of India (LIC) hit the upper circuit and 52-week high. The stock is locked in 20 per cent upper circuit to a fresh 52-week high of Rs 10.65 per share. In recent trading sessions, the stock has been hitting the upper circuit and 52-week high. The shares of the company saw a spurt in volume by more than 1.62 times on BSE and in just 3 days, the stock is up by 52.14 per cent.
The company announced bonus shares in the ratio of 1:1, i.e., for every 1 equity share having a face value of Rs 1 held by an eligible shareholder on the record date, the shareholder will receive 1 additional bonus share having a face value of Rs 1. The company fixed the record date for the bonus issue of shares as Thursday, January 11, 2024.
As of September 30, 2023, LIC owns 48,59,916 shares or 1.06 per cent. From December 29, 2023, closing of Rs 7 per cent to today’s intraday high of Rs 10.65 per share, the stock is up by Rs 3.65 or 52.14 per cent.
Therefore, 48,59,916 shares x Rs 3.65 per share = Rs 1,77,38,693
The champion penny stock name is Integra Essentia Ltd.
Integra Essentia, a diversified player in life essentials (food, clothing, infrastructure, and energy) with a market cap of Rs 486.74 crore, has strategically entered the promising beer & whiskey market by acquiring a majority stake in Brewtus Beverages. This move, involving subsidiary formation and initial growth investment, aligns with Integra Essentia's focus on expanding its lifestyle beverages business and capitalizing on market potential.
Results: The company's consolidated financial performance improved significantly in Q2FY24 and H1FY24 compared to the same periods in the previous fiscal year. The company's revenue grew by 17.11 per cent in Q2FY24 and 7.79 per cent in H1FY24. EBITDA increased by 420.98 per cent in Q2FY24 and 407.23 per cent in H1FY24, and PAT increased by 248 per cent in Q2FY24 and 217 per cent in H1FY24.
The stock gave multibagger returns of 634 per cent in just 2 years and a whopping 2,200 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.
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