1:1 Bonus Share after 5:1 Stock Split: Multibagger penny stock under Rs 50 with 1,650 per cent returns to keep under the radar!
The stock is up by 35 per cent from its 52-week low of Rs 29.60 and gave multibagger returns of over 1,650 per cent in 5 years.
Sprayking Limited, formerly known as Sprayking Agro Equipment Limited, announced a major development for its shareholders. The company's board of directors approved the issuance of a 1:1 bonus share, essentially a 100 per cent bonus, to its investors. This move signifies Sprayking's commitment to rewarding its shareholders and reflects the company's impressive growth trajectory over the years. In simpler terms, for every share a shareholder currently holds, they will receive one additional share, effectively doubling their investment. This strategic decision highlights Sprayking's confidence in its future.
Looking back, Sprayking Limited has come a long way since its incorporation in 2005. Initially established in the agro-equipment industry, the company has consistently strived for innovation and excellence. Their strong business model and growth potential were evident with their debut on the BSE SME platform in 2016. This was further solidified by its transition to the prestigious BSE Mainboard in 2023. Over the years, Sprayking Limited has transformed from a single manufacturing unit to boasting multiple state-of-the-art production facilities. They have also strategically diversified their product portfolio, offering a wider range of high-quality agro-equipments to cater to the evolving needs of the agricultural sector. This strategic expansion has not only strengthened Sprayking's market position but has also ensured sustained value for all its stakeholders.
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Furthermore, the shares of the company ex-traded stock split of equity shares in the ratio 2:1 i.e., sub-division /split of each equity share having a face value of Rs 10 each, fully paid-up into 5 equity shares having a face value of Rs 2 each fully paid-up. The record date for the stock split was Friday, April 12, 2024.
Sprayking Ltd, founded in 1980, is a manufacturer of various brass components and parts, including fittings, equipment for forging, transformer parts, and custom-made brass items. They also produce copper forgings, agricultural sprayer parts, garden fittings, and more, and export their products to countries around the world. The company has a market cap of over Rs 200 crore.
The stock’s 52-week high is Rs 60.04 and its 52-week low is Rs 29.06. The stock is up by 35 per cent from its 52-week low of Rs 29.60 and gave multibagger returns of over 1,650 per cent in 5 years. Investors should keep an eye on this micro-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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