Unstoppable Momentum: Small-cap gem registers back-to-back upper circuit amid heavy buying

Company announces stock split and bonus issue.

Shares of Maan Aluminium Limited were locked in the upper circuit on Tuesday, gaining 5 per cent on the bourses. In the last five trading sessions, the stock has gained about 14 per cent. On Tuesday, the stock also made a fresh 52-week high at Rs 354.55. 

The company posted brilliant Quarterly Results. The revenue of the company for Q4FY23 stood at Rs 262.87 crore which grew by 103.78 per cent YoY. The operating profit of the company stood at Rs 22.30 crore, while the PAT of the company stood at Rs 14.46 crore, representing an impressive growth of 76.99 per cent YoY.    

Maan Aluminium Limited has also delivered multibagger returns of about 215 per cent in one year holding period to its shareholders. 

Maan Aluminium Limited informed in the exchange filing that the company’s board has approved bonus shares in a ratio of 1:1 (one equity share for every one equity share) held on the record date. The board also approved a sub-division of 1 (one) Equity share of the face value of Rs 10 each fully paid up to 2 (two) Equity shares of the face value of Rs 5 each fully paid up. The board has fixed July 27, 2023, as the record date for the stock split and bonus shares. 

The stock has shown tremendous growth, and investors should keep a close eye on this stock. 

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