Multibagger from its 52-week low; Board announces bonus shares & stock split for the first time ever!
The stock gave multibagger returns of 128.2 per cent from its 52-week low of Rs 54.25 per share.
Rudra Global Infra Products Ltd informed that the Board of Directors of the company have approved the issue of equity shares by way of bonus issue in the ratio of 1:1 [i.e., 1 (One) fully paid-up equity share for every 1 (One) equity share] as of record date. Additionally, the Board has approved the proposal of stock split /sub-division of the company's 1 (one) equity share of face value of Rs 10 each into 2 (two) equity shares of face value of Rs 5 each and subsequent alteration to the memorandum of association of the company.
The company fixed the record date for bonus shares & stock split as Wednesday, October 18, 2023.
On Tuesday, shares of Rudra Global Infra Products Ltd gained 5 per cent upper circuit to Rs 123.80 per share from its previous closing of Rs 117.95. The shares of the company saw a spurt in volume by more than 14.46 times on BSE.
Rudra Global Infra Products Ltd was started in 1991 with a steel re-rolling mill in Gujarat having a capacity of 1000 MT per month. Today, it is engaged in various businesses like ship recycling, oxygen plants, induction furnaces and re-rolling mills producing more than 3 lakh MT per annum of steel.
Talking about the financials, Rudhra Global has a market cap of Rs 310.56 crore. According to the Quarterly Results, the net sales increased by 43.14 per cent to Rs 138.16 crore, operating profit increased by 10.24 per cent to Rs 9.8 crore and net profit increased by 14.58 per cent to Rs 4.4 crore in Q1FY24 compared to Q1FY23. In FY23, the net sales increased by 28.77 per cent to Rs 452 crore and net profit increased by 75 per cent to Rs 14 crore compared to FY22.
The stock gave multibagger returns of 128.2 per cent from its 52-week low of Rs 54.25 per share. From Rs 27.05 per share to Rs 123.80 per share, the stock gave multibagger returns of over 350 per cent in just 2 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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