Multibagger penny stock under Rs 10; Board likely to announce rights issue worth Rs 42,00,00,000 for the first time ever!

The stock gave multibagger returns of 135 per cent in just 6 months and its currently trading at 0.59 times its book value of Rs 15.8.

AA Plus Tradelink Ltd informed that a meeting of the Board of Director of the company is scheduled to be held on Friday. October O6, 2023, to inter alia, considered and approve the following businesses:-

1) The Board of the Directors of the company has decided in their meeting held on September 15, 2023 for raising of funds through issuance and allotment of equity shares having face value of Rs 10 each for an aggregate amount not more than Rs 20,00,00,000 an right issue basis as of record date; now company propose to raising of fund through issuance and allotment of equity shares on right issue basis, having face value of Rs 10 each from an aggregate amount of Rs 20,00,00,000 to not more than Rs 42,00,00.000

2) Other business arising out of the above business and incidental an ancillary to the company’s business.

Incorporated in 2016, AA Plus Trade Link Ltd trades in products made of iron & steel, aluminium, graphite and other alloys products. It takes contracts from builders for the end-to-end supply and fitting of aluminium windows along with the glass. The company has a market cap of Rs 7.65 crore.

After gaining nearly 135 per cent over the period of 6 months, shares of AA Plus Tradelink Ltd are undergoing a correction and have hit the lower circuit for the fourth straight day. Today, shares of AA Plus Tradelink Ltd plunged 5 per cent to Rs 9.37 per share from its previous closing of Rs 9.81. The 52-week high of the stock is Rs 20.44 and the 52-week low of Rs 4.10.

The stock gave multibagger returns of 135 per cent in just 6 months and its currently trading at 0.59 times its book value of Rs 15.8.

Disclaimer: The article is for informational purposes only and not investment advice.