Multibagger in just 1 year; Board likely to announce stock split!
The stock gave multibagger returns of 130 per cent in just 1 year whereas BSE Sensex Index is up by 11.2 per cent.
Ravalgaon Sugar Farm Ltd informed that a meeting of the Board of Directors of the company is scheduled to be held on Wednesday, August 30, 2023 inter-alia, to consider and approve the proposal for sub-division/ stock split of existing equity shares of the company having a face value of Rs 50 each, fully paid up, in such manner as may be determined by the Board of Directors subject to the approval of Shareholders of the Company and/or any other regulatory/statutory approvals (if any).
The Ravalgaon Sugar Farms Ltd manufactures confectioneries like hard-boiled sweets and toffees and caters to the general trade and modern trade markets. The company has a market cap of Rs 36.21 crore with a 3-year stock price CAGR of 43 per cent.
As of June 2023, the promoters of the company own a majority stake of 53.31 per cent, followed by DIIs with a 0.05 per cent stake. The remaining 46.64 per cent of the shares are held by the general public.
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On August 21, 2023, shares of Ravalgaon Sugar Farm Ltd jumped 253.55 points or 5 per cent upper circuit to Rs 5,324.60 per share from its previous closing of Rs 5,071.05 (Today the stock is not trading on the exchange). The shares of the company saw a spurt in volume by more than 1.17 times on BSE. The stock’s 52-week high is Rs 6,153.75 and its 52-week low is Rs 2,257.05.
The stock gave multibagger returns of 130 per cent in just 1 year whereas BSE Sensex Index is up by 11.2 per cent. Investors should keep an eye on this micro-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.