Only Sellers In This Penny Stock Under Rs 20, Hitting 11th Consecutive Lower Circuit: Board Announces 10:1 Stock Split
The company has a market cap of Rs 26.54 crore and stock gave multibagger returns of 770 per cent from its 52-week low of Rs 2.24 per share.
On Monday, shares of Mercury Trade Links Ltd hit a 2 per cent lower circuit to Rs 19.50 per share from its previous closing of Rs 19.89 per share. The stock’s 52-week high is Rs 105.04 per share and its 52-week low is Rs 2.24 per share. The share of the company saw a spurt in volume by more than 2 times on BSE and has been hitting 11th consecutive lower circuit.
Mercury Trade Links Ltd has announced a 10:1 stock split, subdividing each existing equity share with a face value of Rs 10 into ten shares with a face value of Re 1, effectively increasing the number of outstanding shares from 1,36,12,500 to 13,61,25,000 while maintaining the total paid-up and authorized capital at Rs. 35,00,00,000. This split aims to enhance the company's stock liquidity and make its shares more accessible to retail investors. The company anticipates completing this process within approximately two months following shareholder approval.
Established in 1985, Mercury Trade Links Ltd (MTLI) operates in commercial agriculture, engaging in the trading, export, and import of agricultural products and related materials. Its diverse business verticals encompass dealing in agro-products like fertilizers and pesticides, handling a wide range of agricultural produce such as grains, seeds, and oilseeds, developing agriculture and forest resource-based industries including cultivation and plantations, and manufacturing and trading various agricultural and other commodities.
DSIJ's ‘Penny Pick’ service provides research-backed penny stock recommendations below Rs. 100. If this interests you, do download the service details here.
The company intends to diversify its operations by engaging in contract farming, encompassing the full agricultural cycle from cultivation to sale through agreements with farmers; expanding into the precious metals and gemstones sector, involving the manufacture, design, trade, and retail of jewellery and related products, alongside services such as gemstone setting and custom designs; and entering the real estate industry, covering development, construction, property management, and trading in construction materials, while also providing consultancy and project management services and pursuing real estate investments.
The company has a market cap of Rs 26.54 crore and the stock gave multibagger returns of 770 per cent from its 52-week low of Rs 2.24 per share. Investors should keep an eye on this micro-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.