Rs 24,00,00,000 rights issue announced by this multibagger micro-cap company; scrip up by 433 per cent in just 3 years!
The stock is up by 22 per cent in 1 year and a whopping 433 per cent in 3 years.
Globe International Carriers Limited informed that the Board of Directors of the company, approved the issue of equity shares by way of rights issue to the existing shareholders of the company for an amount not exceeding Rs 24,00,00,000 (Rupees twenty-four crore) in accordance with the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, as amended and other applicable laws (Rights Issue) in the ratio and price to be decided at a later stage.
Globe International Carriers Ltd is engaged in the business of providing integrated end-to-end logistics solutions for the transit of materials across national and multinational borders.
Talking about the financials, Globe International has a market cap of over Rs 85 crore with a 3-year stock price CAGR of 75 per cent. The net sales increased by 25 per cent to Rs 63.05 crore and the net profit skyrocketed by 260 per cent to Rs 1.51 crore in H2FY23 compared to H1FY23. In FY23, the net sales increased by 5.52 per cent to Rs 113.68 crore and net profit increased by 33.73 per cent to Rs 1.92 crore compared to FY22.
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On August 23, 2023, shares of Globe International Carrier Ltd ended the trading session in green, up 1.43 per cent to Rs 42.60 per share.
The stock is up by 22 per cent in 1 year and a whopping 433 per cent in 3 years. Investors should keep an eye on this micro-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.