Multibagger in just 1 year, Board likely to announce bonus shares and stock split!
On Tuesday, shares of the company hit 20 per cent upper circuit and traded at a new 52-week high.
On Tuesday, one of the Top Gainers on BSE, shares of Maan Aluminium Ltd jumped 20 per cent upper circuit to Rs 298.95 per share. The stock also traded at a new 52-week high of Rs 298.95 per share.
Maan Aluminium Ltd, engaged in the business of manufacturing & trading aluminium profiles, announced that the meeting of the Board of Directors of the Company will be held on Friday, June 09, 2023, at 12.30 p.m. inter-alia for the following agenda, apart from other business items:
1. To consider a consequential amendment to the capital clause of the Memorandum of Association of the company.
2. To consider a proposal for sub-division / stock split of the equity shares of the company having a face value of Rs 10 each, subject to such regulatory/ statutory approvals as may be required, including the approval of the shareholders of the Company.
3. To consider an increase in the authorized share capital of the company.
4. To consider the issue of bonus shares to the shareholders of the company.
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Maan Aluminium Ltd reported excellent numbers in its Quarterly Results (Q4FY23) and annual results (FY23). The net sales increased by 103.78 per cent and net profit increased by 77 per cent in Q4FY23 over Q4FY22. The net sales increased by 42.21 per cent and the net profit skyrocketed by 127.34 per cent in FY23 over FY22.
The shares of the company saw a spurt in volume by more than 4.45 times on BSE. The stock gave multibagger returns of 149 per cent in just 1 year and over 1,200 per cent in 3 years. Investors should keep an eye on this micro-cap stock.