Multibagger penny stock under Rs 80; Board likely to announce bonus shares & stock split!

After rising nearly 340 per cent from its 52-week low of Rs 17.20 per share, shares of the company are undergoing a correction and have hit the lower circuit for the fourth straight day.

Ishan International Ltd informed that the Board of Directors of the company is scheduled to be held on December 14, 2023, at the corporate office of the company situated at 1616 WTT Building, Sector-16, Noida, Uttar Pradesh-201301 to consider and approve, among other agenda items, the following proposals:

1. Increase in Authorized Capital: To consider and, if thought fit, recommend an alteration (increase) in the authorized share capital of the company in the proportion determined by the Board, subject to the approval of the shareholders and regulatory authorities.
2. bonus Issue: To consider and, if thought fit, approve the issue of bonus shares to the shareholders of the company in the proportion determined by the board, subject to the approval of the shareholders and regulatory authorities.
3. stock split: To consider and, if thought fit, recommend the sub-division of the equity shares of the company in the proportion determined by the board, subject to the approval of the shareholders and regulatory authorities.

After rising nearly 340 per cent from its 52-week low of Rs 17.20 per share, shares of Ishan International are undergoing a correction and have hit the lower circuit for the fourth straight day. On Friday, shares of Ishan International Ltd plunged 5 per cent to Rs 72.75 per share from its previous closing of Rs 76.55. The 52-week high of the stock is Rs 87 and the 52-week low of Rs 17.20.

Incorporated in 1995, Ishan International Limited is engaged in contracting and building projects that focus on supplying machines, erection/installation, commissioning, and operational training for sugar plants, jaggery plants, pharmaceutical plants, hydropower plants, and pollution control systems.

The company has a market cap of Rs 52.4 crore. According to half-yearly results and annual results, the company reported amazing numbers.

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