Multibagger in just 1 year; Board announced bonus shares!
The promotors of the company hold a 67.70 per cent stake in the company and the rest is owned by the general public which is 32.30 per cent as of March 2023.
Abhishek Integrations Limited announced that a meeting of the Board of Directors of the company was held on Thursday, June 15, 2023, and they have approved bonus shares in the ratio of 1:1, i.e., 1 (One) equity share of Rs 10 each for every 1 (One) existing equity share of Rs 10 each held as of the record date. The bonus shares will be credited within 2 months from the date of Board approval, i.e., by August 14, 2023, subject to shareholders' approval.
On Friday, shares of Abhishek Integrations gained 1.41 per cent to Rs 50.50 per share with an intraday high of Rs 52 and an intraday low of Rs 49. The stock has a 52-week high of Rs 54.65 and a 52-week low of Rs 22.
According to the financials, the company has a market cap of 15.21 crore. The net sales increased by 74.50 per cent to Rs 13.76 crore and net profit increased by 53.64 per cent to Rs 0.34 crore in H2FY23 over H2FY22. The net sales increased by 70.26 per cent to Rs 22.55 crore and net profit increased by 34.06 per cent to Rs 0.67 crore in FY23 over FY22.
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The promotors of the company hold a 67.70 per cent stake in the company and the rest is owned by the general public which is 32.30 per cent as of March 2023. The stock gave multibagger returns of 136.35 per cent in just 1 year. Investors should keep an eye on this micro-cap stock.