1:1 Bonus Share: Multibagger Penny Stock Under Rs 15 Hits Upper Circuit After Expanding Horizons with Planned Land Acquisition for Contract Farming

From Rs 2.53 (52-week low) to Rs 11.41 per share, the stock gave multibagger returns of 351 per cent.

On Friday, shares of Spright Agro Ltd were locked in a 2 per cent upper circuit to Rs 11.41 per share from its previous closing of Rs 11.19. In the recent trading sessions, the stock has been hitting back-to-back upper circuits. The shares of the company saw a spurt in volume by more than 2.60 times on BSE.

Spright Agro Limited, a reputable name in contract farming and agricultural trading, is excited to announce its plans to acquire additional land. This strategic move reinforces the company's dedication to growth, innovation, and sustainability within the agricultural sector. By expanding its contract farming operations, Spright Agro Limited aims to strengthen its market position and solidify its leadership role in the industry.

This planned acquisition is projected to significantly boost the company's revenue by an estimated 10-15 per cent, leading to a proportionate increase in net revenue for the financial year. Spright Agro Limited's commitment to sustainable farming practices remains unwavering. By expanding its contract farming initiatives, the company further reinforces its dedication to delivering consistent value to stakeholders while promoting environmentally friendly practices.

With a strong reputation for reliability, innovative farming solutions, and a focus on quality, Spright Agro Limited continues to empower farmers, contribute to food security, and drive growth in the agricultural economy. The leadership team at Spright Agro Limited is optimistic about the future and the opportunities this expansion will bring. By scaling its operations, the company aims to set new industry standards, ensuring continued success and satisfaction for its partners and customers.

Additionally, On November 29, 2024, the shares of the company ex-traded bonus shares in the ratio 1:1 i.e., for every share a shareholder holds on the record date; they will receive one additional share.

Spright Agro Ltd, formerly known as Tine Agro Ltd, is an Indian company established in 1994 that deals in various agricultural products and related activities. Their business encompasses a wide range. They develop industries based on agricultural and forest resources. They also directly participate in farming by planting, growing, and cultivating various crops, including those grown in forests, on plantations, and in greenhouses. Additionally, they import, export, wholesale, retail, and trade in all kinds of agricultural and other commodities, demonstrating their involvement across the entire agricultural supply chain.

The company has a market cap of Rs 1,222.6 crore and the company’s 100 per cent stake is owned by the public shareholders. From Rs 2.53 (52-week low) to Rs 11.41 per share, the stock gave multibagger returns of 351 per cent.

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