Multibagger in just 6 months; Board announced bonus shares!
The stock gave multibagger returns of 171 per cent in just 6 months whereas BSE Industrials Index is just up by 20 per cent.
Shish Industries Limited, one of the leading manufacturers and distributes plastic containers and packaging solutions in India, announced that a meeting of the Board of Directors of our Company has approved bonus issue of equity shares in the proportion 2 (Two) fully paid-up equity share of Rs 10 each for every 1 (One) fully paid-up Equity Shares of Rs 10 each held by the shareholders of the company as on the record date, subject to shareholders’ approval. The record date for reckoning eligibility of the shareholders entitled to receive bonus shares will be communicated later.
The pre-bonus issue paid-up equity share capital as of the date of this letter is Rs 11.40 approx. consisting of 1,13,97,133 equity shares of Rs 10 each. The post-bonus issue paid-up equity share capital shall be Rs 34.20 crore approx. consisting of 3,41,91,399 Equity shares of Rs 10 each.
On Thursday, shares of Shish Industries Limited zoomed 4.88 per cent to make a new 52-week high of Rs 399.60 per share. At 03:30 pm, shares of the company ended the date in green, up 4.46 per cent to Rs 397.45 per share.
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According to the financials, the company have a market cap of over Rs 450 crore with a 3-year CAGR of 175 per cent. The company reported fantastic numbers in its Quarterly Results and annual results. The stock had a ROE of 24 per cent and a ROCE of 26 per cent.
The shares of the company saw a spurt in volume by more than 2.03 times on BSE. The stock gave multibagger returns of 171 per cent in just 6 months whereas BSE Industrials Index is just up by 20 per cent. Investors should keep an eye on this micro-cap stock.