Multibagger penny stock below Rs 50 with 140 per cent returns; Board announces stock split of equity shares!

The stock gave multibagger returns of 140 per cent in just 1 year whereas BSE Sensex Index is up by 12.65 per cent.

Shashijit Infraprojects Ltd informed that the Board of Directors of the company, inter alia to consider and approve the proposal for a stock split of the equity shares in the ratio 1:5 i.e., existing equity shares of face value of Rs 10 each of the company shall be sub-divided to equity shares of face value of Rs 2 each of the company. The company fixed the record date as Friday, October 27, 2023.

Earlier, the company announced bonus shares in the ratio of 1:5 for a face value of Rs 10 each in 2018.

Incorporated in 2007, Shashijit Infraprojects Ltd does the construction of residential, industrial, commercial and Institutional buildings. The company has a market cap of Rs 41.78 crore. According to the shareholding pattern, promoters own 53.04 per cent shares of the company and the rest 46.96 per cent shares are owned by the public.

According to the Quarterly Results, the net sales decreased by 2.75 per cent to Rs 8.13 crore while the net profit increased by 91.67 per cent to Rs 0.23 crore in Q1FY24 compared to Q1FY23. In FY23, the net sales increased by 24.13 per cent to Rs 35.34 crore and net profit skyrocketed by 246.15 per cent to Rs 0.45 crore compared to FY22.

On Monday, shares of Shashijit Infraprojects Ltd hit a 5 per cent upper circuit to Rs 40.39 per share from its previous closing of Rs 38.10. The stock’s 52-week high is Rs 45.84 and its 52-week low is Rs 14.35.

The stock gave multibagger returns of 140 per cent in just 1 year whereas BSE Sensex Index is up by 12.65 per cent. Investors should keep an eye on this micro-cap stock.

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