6,000 per cent returns in this multibagger stock: Heavy buying witnessed as small-cap company announces merger with subsidiary!
The stock gave multibagger returns of 190 per cent returns in just 1 year and over 6,000 per cent in the span of 3 years.
On Monday, one of the Top Gainers on BSE, shares of Hardwyn India were locked in a 5 per cent upper circuit to Rs 41.68 per share from its previous closing of Rs 39.70.
The sudden rise in the stock price is because it informed that the Board of Directors of the company has approved the draft scheme of amalgamation with FIBA HARDWYN LOCKS LIMITED.
Fiba Hardwyn Locks Limited is a public company incorporated under the Companies Act, 1956 on 22nd August 2005, having its registered office at C-147 Mayapuri Indl Area Phase II New Delhi110064, engaged in the Manufacturing of fabricators, cutters moulder and allied business to deal in the hardware industry.
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. In terms of financials, the company boasts a market capitalization of Rs 1,454.14 crore and has consistently delivered impressive quarterly and annual results.
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Moreover, Hardwyn recently implemented a trading phase involving ex-bonus shares traded at a ratio of 1:3 and an ex-stock split at a ratio of 10:1 for equity shareholders, with the record date set on Monday, June 05, 2023. This strategic move reflects the company's efforts to enhance shareholder value and expand its investor base.
The stock gave multibagger returns of 190 per cent returns in just 1 year and over 6,000 per cent in the span of 3 years. Investors should keep an eye on this Small-Cap stock.