3,160 per cent returns: This multibagger small-cap stock is set to trade ex-split tomorrow; do you own it?
The stock gave multibagger returns of 700 per cent in 3 years and a whopping 3,160 per cent in a decade. I
The Indian stock market was in red on Wednesday, with the benchmark indices Sensex and Nifty trading lower, down over 0.80 per cent each. About 1,140 shares have advanced; 2,551 have declined and 104 were unchanged on BSE.
Along with the market in red, shares of BCL Industries Ltd plunged 3.62 per cent to Rs 484.10 per share from its previous closing of Rs 502.30 with an intraday high of Rs 509.10 and an intraday low of Rs 457. The shares of the company saw a spurt in volume by more than 2.36 times on BSE.
The Board of Directors of BCL Industries Ltd recommended a stock split of equity shares i.e., a sub-division of every 1 equity share of the nominal/face value of Rs 10 each into 10 equity shares of the nominal/face value of Rs 1 each. The company set the record date for stock split is Tomorrow, Friday, October 27, 2023.
Incorporated in 1976, BCL Industries Ltd Limited is a part of the Mittal group. The company is in the edible oil and distillery business in India. The company has a market cap of over Rs 1,200 crore and has delivered good profit growth of 30 per cent CAGR over the last 5 years.
Recently, BCL Industries Ltd. has decided to reduce focus on the edible oil business segment due to depressed margins and sustainability pressure. The company will terminate the lease for the Jalalabad unit, shut down the Bathinda edible oil unit and shift a portion of the Bathinda edible oil business to the Bathinda distillery complex. BCL expects a significant reduction in its overheads and expects to monetise the Bathinda edible oil unit land in the near future. The company believes that this decision will improve management bandwidth and increase focus on the high-margin distillery segment.
The stock gave multibagger returns of 700 per cent in 3 years and a whopping 3,160 per cent in a decade. Investors should keep an eye on this Small-Cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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