Multibagger from its 52-week low; Board likely to announce stock split!
The stock is up by 210 per cent in 6 months, up by 494 per cent in 1 year and over 2,200 per cent in less than 3 years.
Servotech Power Systems Ltd announced that the Board of Directors of the company is scheduled to hold a meeting on Thursday, May 25, 2023 at 03:00 p.m. to inter-alia consider and approve the following:
1) To approve the sub-division (split) of the face value of equity shares of the company. The current face value of each share is Rs 2.
2) To approve the alteration of the capital clause in the memorandum of association of the company.
3) Any other matter or other usual routine matters including any other matter brought before the Board, with the consent of the Chairman.
On Friday, one of the Top Gainers on NSE, shares of Servotech Power Systems jumped 5 per cent upper circuit to Rs 88.90 per share from its previous closing of Rs 84.70 per share. The stock gave multibagger returns of 680 per cent from its 52-week low of Rs 11.40 per share.
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Servotech Power Systems is a small-cap company with a market valuation of Rs 945.25 crore. The company in Q4FY23 reported a 363 per cent jump in net profit at Rs 6.05 crore. Its revenue from operations stood at Rs 115.3 crore in the quarter. Other income surged to Rs 4.67 crore. This would be the second split, if approved, within a year. Earlier in February 2023, the company had split the face value from Rs 10 to Rs 2.
Servotech Power Systems also manufactures and distributes EV charging solutions, solar products and medical devices.
The stock is up by 210 per cent in 6 months, up by 494 per cent in 1 year and over 2,200 per cent in less than 3 years. Investors should keep an eye on this small-cap stock.