Multibagger stock below Rs 200: Don't miss a move in this stock that has a rights issue announced!

The stock delivered multibagger returns of 110.07 per cent over the previous year and returns of 137.09 per cent during the previous 15 months.

Markolines Pavement Technologies Ltd also known as Markolines Traffic Controls Ltd, in its recent press release announced rights issue in the ratio 5:32. The price for the right issue is Rs 167 per share including Rs 157 premium per share.   

The company has set January 17, 2023 as the record date for the rights issue. The Board of Directors has determined that the appropriate issue size is Rs 4985.87 lakh for a total of 29,85,550 rights issues of equity shares.  

Today, shares of Markolines Pavement Technologies Ltd plunged 0.063 per cent to Rs 158.50 per share from its previous closing of Rs 158.40. The stock delivered multibagger returns of 110.07 per cent over the previous year and returns of 137.09 per cent during the previous 15 months.  

Markolines Pavement Technologies Ltd has a market cap of Rs 300 crore. It is engaged in highway operations & maintenance (O&M) service providing. The company’s operations are mainly divided into-highway operations, highway maintenance and specialized maintenance services. The company informed the exchange that 'Markolines Traffic Controls Ltd' will be renamed 'Markolines Pavement Technologies Ltd' in the current fiscal year, 2022-2023.  

According to the half-yearly and annual financial statements, the firm reported positive results. In H1FY23 net sales rose by 100.12 per cent and net profit rose by 157.24 per cent compared to H1FY22. The stock has a 52-week high of Rs 207 and a 52-week low of Rs 59.35. Investors should keep an eye on this Small-Cap stock.