1:1 Bonus Share & 10:1 Stock Split: Rahul Gandhi’s 260 Shares Became 5200 Shares; Stock Hits Upper Circuit Today
The company’s shares have delivered a return of over 240 per cent to its shareholders in just 1 year.
On Friday, July 5, the shares of Vertoz Advertising became ex-date for a bonus issue and a 10:1 stock split. The stock closed at Rs 686.50 on Thursday but adjusted to Rs 36 per share post-split on Friday. It surged 5 per cent during today’s trading session, hitting the upper circuit at Rs 37.85 per share.
Vertoz Advertising operates in the digital advertising industry and boasts a market cap of Rs 3072.54 crore as of July 8. The stock has generated an impressive multibagger return of over 240 per cent in just 1 year.
Rahul Gandhi, Leader of Opposition in Lok Sabha and a Congress leader, holds this stock. As of March 31, 2024, he owned approximately 260 shares before the split and bonus issuance. Following these corporate actions and adjustments, Rahul Gandhi now holds 5,200 shares in Vertoz Advertising. Post-split, his initial 260 shares transformed into 2,600 shares, and after the bonus issue, these were doubled to 5,200 shares. The company had announced a 1:1 bonus issue, with the bonus shares expected to be credited by July 30, 2024.
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Founded in 2012, Vertoz Advertising specializes in data-driven marketing, advertising, and monetization solutions for digital marketers, advertising agencies, and digital media businesses. The company has developed its full-stack capabilities internally and has acquired additional components to enhance its product offerings.
As per the Quarterly Results, in the fourth quarter of FY24, the company recorded a revenue of Rs 45.66 crore. The operating profit for Q4 FY24 stood at Rs 6.65 crore, resulting an operating profit margin of 14.56 per cent. The net profit for Q4 FY24 was Rs 4.69 crore. Looking at the annual performance, the company generated a revenue of Rs 155 crore in FY24, compared to Rs 83 crore in FY23. The operating profit for FY24 was Rs 21 crore, with a net profit of Rs 16 crore.
Investors must keep this Small-Cap multibagger stock on their radar.
Disclaimer: The article is for informational purposes only and not investment advice.