Multibagger in just 1 year; Board announced rights issue!
The stock is up by 75 per cent in just 6 months and over 150 per cent in 1 year.
Lloyds Steels Industries inform that a meeting of the Board of Directors of the Company was held today i.e., June 14, 2023 (Wednesday), inter-alia, transacted and approved the following:
1. Approved the Offer and issuance of fully paid-up equity shares of the Company for an amount not exceeding ₹9,990 Lakh by way of a Rights Issue to the eligible equity shareholders of the Company as on Record Date.
2. The Board also approved the formation of a Rights Issue Committee / Securities Issue Committee or the said rights issue to decide on the terms and conditions of the rights issue including but not limited to the rights entitlement ratio, the issue price, record date, timing of the rights issue and other related matters.
Lloyds Steels Industries is primarily engaged in the design, manufacturing, and commissioning of heavy equipment, machinery & systems for the hydrocarbon sector, oil & gas, steel plants, power plants, nuclear plant boilers, and turnkey projects.
DSIJ offers a service 'multibagger Pick" with recommendations for multibagger stocks based on research and analysis to help subscribers make informed investment decisions. If this interests you, then do download the service details pdf here
On Friday, shares of Lloyds Steels Industries plunged 0.14 per cent to Rs 25.79 per share with an intraday high of Rs 26.38 and an intraday low of Rs 25.65.
The stock is up by 75 per cent in just 6 months and over 150 per cent in 1 year. Investors should keep an eye on this Small-Cap stock.