Triple Bonanza! Board announces rights issue, dividend & stellar quarterly results: Multibagger penny stock under Rs 10 & PAT jumps over 500 per cent!
At the closing bell, shares of the company were trading at Rs 6.90 per share, down 5 per cent with a spurt in volume by more than 3.20 times on BSE.
On Wednesday, shares of Luharuka Media & Infra Ltd surged and reached an upper price band & fresh 52-week high of Rs 7.62 per share, after hitting the 5 per cent upper circuit. At the closing bell, shares of the company were trading at Rs 6.90 per share, down 5 per cent with a spurt in volume by more than 3.20 times on BSE.
Luharuka Media & Infra Limited (LMIL) is a non-banking finance company (NBFC). The company is engaged in the financial sector and provides various types of loans. The company also operates in the infrastructure and media industry. LMIL has a market cap of 64.67 crore.
According to Quarterly Results, the net sales increased by 196 per cent to Rs 1.33 crore and net profit increased by 578 per cent to Rs 0.61 crore in Q1F25 over Q4FY24. In its annual results, the company reported net sales of Rs 1.63 crore and net profit of Rs 0.61 crore in FY24 compared to net sales of Rs 1.93 crore and net profit of Rs 0.67 crore in FY23.
The company proposes a right issue of 9,37,20,000 fully paid-up equity shares with a face value of Re. 1 each, at an issue price of Rs. 3 per share (including premium) to existing shareholders in a 1:1 ratio. The total issue size is Rs. 28,11,60,000. The record date for determining eligible shareholders is August 02, 2024, and the rights issue period is from August 14, 2024, to August 28, 2024. Successful completion of the issue will double the company's outstanding equity shares to 18,74,40,000. Detailed terms and conditions will be outlined in the Letter of Offer to be filed with BSE Limited, which has been approved by the company's board.
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Additionally, the company recommends a final dividend of Re 0.02 per equity share for the financial year ending March 31, 2024, equating to a 2 per cent dividend on its total paid-up equity share capital. This dividend is subject to shareholder approval at the upcoming Annual General Meeting.
The stock gave multibagger returns of 122.6 per cent from its 52-week low of Rs 3.10 per share. Investors should keep an eye on this micro-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.
Also Read: Debt-free multibagger penny stock under Rs 10 to keep under the radar as the company announces stellar quarterly results (Q1FY25); PAT jumps over 1,700 per cent!