600 per cent return in this multibagger stock; Board likely to announce stock split and dividend!

The stock gave multibagger returns of 125 per cent in just 1 year and over 600 per cent in 3 years.

Hindcon Chemicals Ltd informed that a meeting of the Board of Directors of the company will be held on Saturday, August 26, 2023, inter alia, to transact the following business:

1) To consider Interim dividend for the financial year 2023-24.

2) To consider buyback and/or stock split of the face value of the equity shares.

3) To review the status of the expansion of the project undertaken.

4) To fix the date of the extraordinary general meeting and approve notice for convening the extraordinary general meeting for split and/or buyback of equity shares of the company.

5) Record date for the payment of the aforesaid interim dividend declared, if any, by the board is fixed as Friday, August 25, 2023.

Hindcon Chemicals is engaged in the business of sodium silicate, cement additives, etc. The company has a market cap of Rs 135 crore. The company reported positive numbers in its Quarterly Results and annual results. The net sales increased by 28.47 per cent to Rs 88.59 crore and net profit increased by 2.35 per cent to Rs 4.36 crore in FY23 compared to FY22.

On Friday, the shares of Hindcon Chemicals Ltd plunged by 3.36 per cent to Rs 132.50 per share with an intraday high of Rs 142.20 and an intraday low of Rs 130.55. The stock’s 52-week high is Rs 146.80 per share and its 52-week low is Rs 61.25.

The stock gave multibagger returns of 125 per cent in just 1 year and over 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.