Back-to-back 52-week highs in this multibagger stock; Board announced bonus shares!
The stock gave multibagger returns of 130 per cent from its 52-week low of Rs 125.60 per share.
Kamdhenu Ventures Limited informed that a meeting of the Board of Directors of the company approved and recommended a bonus issue in the ratio of 1:1 i.e., 1 (One) bonus equity share (fully paid‐up) of Rs 5 each for every 1 (One) existing equity share of Rs 5 each, held by the shareholders in the company, as on the record date. The company fixed the record date for the bonus issue as Tuesday, August 1, 2023.
Kamdhenu Ventures witnessed a significant surge on Friday, as its shares skyrocketed by 2.34 per cent, reaching a new 52-week high of Rs 288.80 per share. However, by the closing bell, the shares experienced a downturn, trading at Rs 267.55 per share, reflecting a decline of 5.19 per cent.
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Kamdhenu Ventures Limited operates as a paint company. The Company offers dual paint, designer series, exterior emulsion, acrylic washable distemper, wood coating products, and waterproofing solutions. Kamdhenu Ventures serves clients in India. The company has a market cap of over Rs 800 crore.
The stock gave multibagger returns of 130 per cent from its 52-week low of Rs 125.60 per share. The stock has experienced a 30 per cent increase within a one-month period and has risen by more than 50 per cent over the course of three months. Investors should keep an eye on this micro-cap stock.