1:1 bonus share; 5:1 stock split: Heavy buying in this multibagger micro-cap stock at Rs 168.60; hit back-to-back upper circuits & 52-week highs!

The stock gave multibagger returns of 367.7 per cent from its 52-week low of Rs 36.05 per share and a whopping 670 per cent in 3 years.

Colab Cloud Platforms Ltd informed that a meeting of the Board of Directors of the company issue of 5,10,00,000 bonus equity shares in the ratio of 1:1 i.e., 1 fully paid-up equity share for every 1 existing equity share having a face value of Rs 2 each, held by the members of the company as on record date. Additionally, the Board has approved the sub-division/split of existing fully paid-up equity shares of the company from 1 equity share having a face value of Rs 10 each to 5 equity shares having a face value of Rs 2 each, subject to the approval of members. The company did not fix the record date for bonus shares yet but the record date for the stock split is fixed as Wednesday, March 13, 2024.

Today, shares of Colab Cloud Platforms Ltd hit a 2 per cent upper circuit to Rs 168.60 per share from its previous closing of Rs 165.30. The stock also made a fresh 52-week high of Rs 168.60 while its 52-week low is Rs 36.05. In the recent trading sessions, the stock has been hitting back-to-back upper circuits and 52-week highs.

Established in 1989, Colab Cloud Platforms Ltd is a multifaceted Indian company that delves into both the physical and digital realms of IT. They engage in computer hardware and software processing job-work, essentially handling the behind-the-scenes grunt work that keeps technological systems running smoothly. The company has a market cap of Rs 171.97 crore.

According to the Quarterly Results, the net sales increased by 83.6 per cent to Rs 1.12 crore and net profit increased by 109.5 per cent to Rs 0.88 crore in Q3FY24 over Q3FY23. In its annual results, the net sales increased by 477 per cent to Rs 1.50 crore and net profit increased by 507 per cent to Rs 0.85 crore in FY23 over FY22.

The stock gave multibagger returns of 367.7 per cent from its 52-week low of Rs 36.05 per share and a whopping 670 per cent in 3 years.

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