Multibagger penny stock under Rs 15: Board likely to announce stock split for the first time ever and future growth & expansion!

The stock gave multibagger returns of 165 per cent in just 1 year and over 300 per cent in 2 years.

GI Engineering Solutions Limited, (the name being changed to 'Teamo Productions HQ Ltd' to reflect the business activities more appropriately in sync with the contemporary business environment and to enhance its brand equity), informed that the meeting of the Board of Directors of the company is scheduled to be held on Wednesday, October 25, 2023, inter-alia, to transact the following businesses:

1) Consider, approve and take on record the unaudited financial results for the quarter and half year ended September 30, 2023.

2) The proposal for sub-division/ stock split of equity shares of the company having a face value of Rs 10 each in such manner as the Board may determine.

3) To evaluate necessary strategies to be adopted for future growth and expansion of the Company business, form/rejig leadership team, board committee(s), appoint/engage professionals, industry experts, and other matters.

4) To augment the financial resources of the Company, as per the company’s business growth plan, fundraising, by way of issue of securities, convertible instruments, or any other method or combination thereof, for cash or otherwise, and to appoint requisite intermediaries required for this purpose.

5) Any other item(s) with the permission of the Chair.

Teamo Productions HQ Ltd is in the business of civil engineering and IT support and is exploring different avenues to expand its business through new avenues, agreements, acquisitions, joint ventures and other strategic alliances to broaden base the of business interests.

On Monday, shares of GI Engineering Solutions Ltd plunged 1.96 per cent to Rs 11.50 per share with an intraday high of Rs 11.90 and an intraday low of Rs 11.45. The stock’s 52-week high is Rs 38.28 and its 52-week low is Rs 4.55. The company has a market cap of Rs 100 crore.

The stock gave multibagger returns of 165 per cent in just 1 year and over 300 per cent in 2 years. Investors should keep an eye on this micro-cap stock.

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