1:1 bonus share ex-traded on August 21: Multibagger penny stock under Rs 25 rockets over 20 per cent from intraday low with 2 times spurt in volume!
The stock is up by 18.1 per cent from its 52-week low of Rs 17 and gave multibagger returns of over 1,900 per cent in 5 years.
On Wednesday, shares of Sprayking Ltd rocketed over 20 per cent to an intraday high of Rs 23 per share from its intraday low of Rs 19.02. The stock’s 52-week high is Rs 30.02 and its 52-week low is Rs 17. At the closing bell, shares of the company were trading at Rs 20.08 per share from its previous closing of Rs 19.88 per share with a 2 times spurt in volume.
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 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. The bonus shares ex-traded bonus shares on August 21, 2024.
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The company also completed the first three months of production at their new Jamnagar facility, in Gujarat (Plot No. 4009 & 4010, GIDC Phase III, Dared, Jamnagar, Gujarat, 361004). This new facility utilizes recycled waste copper alloy scrap to manufacture high-quality copper alloy components. This achievement demonstrates Sprayking's commitment to environmental sustainability and regulatory compliance, as evidenced by their zero non-compliance notices from the Pollution Control Board over the past three months. The state-of-the-art technology within the facility ensures efficient recycling processes while upholding strict environmental standards. This shift towards recycled materials not only reduces environmental impact but also promotes a circular economy by optimizing resource utilization. Sprayking Limited remains dedicated to innovation, sustainability, and exceeding industry standards, and they look forward to continued advancements in their manufacturing processes.
According to Quarterly Results, the net sales increased by 119 per cent to Rs 35.81 crore and net profit increased by 126 per cent to Rs 2.35 crore in Q1FY25 compared to Q1FY24. The stock is up by 18.1 per cent from its 52-week low of Rs 17 and gave multibagger returns of over 1,900 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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