2:5 Bonus Share: Multibagger Penny Stock Under Rs 20; Board Allots Free 13,95,52,587 Equity Shares; Hit 52-Week Low
The stock gave multibagger returns of 525 per cent in 3 years and a whopping 4,914 per cent since its listing in 2018.
On Monday, shares of Hardwyn India Ltd plunged 7.53 per cent to Rs 18.05 per share from its previous closing of Rs 19.52 per share. The stock's 52-week high is Rs 36.96 per share and its 52-week low is Rs 18.6 per share.
Hardwyn India Limited has announced the allotment of 13,95,52,587 bonus equity shares to its existing shareholders. This allotment, approved by the Board of Directors on December 30, 2024, will be issued in the ratio of 2 bonus shares for every 5 equity shares held as of the record date, December 27, 2024. To address fractional share entitlements, the Board will appoint a nominee to sell these shares on behalf of the shareholders. The net proceeds from the sale of these fractional shares will then be distributed proportionately to the shareholders. Following this bonus share allotment and the adjustment for fractional shares, Hardwyn India Limited's paid-up equity share capital will increase to Rs 48,84,34,054. This represents 48,84,34,054 equity shares with a face value of Re 1 each.
Earlier, the company recently signed a Memorandum of Understanding (MOU) with The Gyalsung Infra, a prominent construction company in Bhutan. This strategic partnership will see Hardwyn India Ltd. supply a wide range of products for various renovation and construction projects undertaken by The Gyalsung Infra over the next two years. This collaboration is expected to be worth approximately Rs 5 crore. This MOU marks a significant milestone for Hardwyn India Ltd., as it allows the company to tap into the burgeoning Bhutanese market. By providing high-quality products and solutions, Hardwyn India Ltd. aims to contribute to the development and modernization of Bhutan's infrastructure. This partnership aligns with the company's vision of becoming a global leader in the hardware industry and underscores its commitment to delivering exceptional value to its customers.
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About the Company
Hardwyn India Ltd, listed on both BSE and NSE, specializes in manufacturing architectural hardware and glass fittings for residential and commercial structures, providing comprehensive solutions. The company boasts a market capitalization of Rs 894 crore.
According to Quarterly Results, the net sales increased by 62 per cent to Rs 51.65 crore and net profit increased by 201 per cent to Rs 4.04 crore in Q2FY25 compared to Q2FY24. In its half-yearly results, the net sales increased by 35 per cent to Rs 92.57 crore and net profit increased by 108 per cent to Rs 5.38 crore in H1FY25 compared to H1FY24.
The stock gave multibagger returns of 525 per cent in 3 years and a whopping 4,914 per cent since its listing in 2018. Investors should keep an eye on this Small-Cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.