2:1 Bonus Share & Promoters bought 6,84,000 shares: Multibagger stock at Rs 101 hit upper circuit & 52-week high; watch out!

The stock gave multibagger returns of 190 per cent in just 1 year and a whopping 600 per cent in 3 years.

The stock last traded on June 11, 2024, wherein shares of MRP Agro Ltd hit a 5 per cent upper circuit to an intraday hign of Rs 100.80 per share from its previous closing of Rs 96 per share. The stock also made a fresh new 52-week high is Rs 100.80 per share and its 52-week low is Rs 30.69. 

In a significant development for the company, the promoters actively increased their stake throughout the first half of 2024. Between May and June (until today), they acquired a total of 4,77,000 shares through open market purchases. This builds upon their previous acquisition of 2,07,000 shares, bringing their total ownership to 67.44% as of March 31, 2024. This represents an increase from their 65.37% stake in December 2023.

On October 13, 2023, shares of the company ex-traded bonus shares in the ratio of 2:1 i.e., 2 new equity bonus shares of Rs 10 each for every 1 existing equity share of Rs 10 each held by equity shareholders as of record date.

Incorporated in 2018, MRP Agro Ltd does trading of food grains, fly ash and coal including the import and export of such products. The company has a trading network in urban and rural areas from where it purchases food grains, fly ash and coal from local markets by way of auction in large quantity and then sells these products, after clearing quality checks, to wholesalers. The company has also completion of the Dal Mill's construction in May 2024.

Also Read: Vijay Kedia bought 24,00,000 shares & DII bought 16,88,963 shares and Promoter sold 5,83,227 shares of this multibagger civil construction stock; hit upper circuit & 52-week high

Talking about the financials, MRP Agro Ltd has a market cap of Rs 93.35 crore. The company reported positive numbers in its half-yearly (H2FY24) results and annual results (FY24). In its annual results, the net sales increased by per cent to Rs 43.20 crore and net profit increased by per cent to Rs 1 crore in FY24 compared to FY23. The stock gave multibagger returns of 190 per cent in just 1 year and a whopping 600 per cent in 3 years. Investors should keep an eye on this micro-cap stock.

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