Back-to-Back Upper Circuits: Investors should keep an eye on this multibagger stock that has announced bonus shares and stock split!

The stock delivered multibagger gains of 307.63 per cent in less than 4 months whereas BSE Small-Cap Index is down by 6.2 per cent.

One of the gainers on the BSE today, shares of Vinny Overseas Ltd surged 4.77 per cent to Rs 336 per share from its previous closing of Rs 320.70. The stock traded at a new 52-week high of Rs 336 per share. Today, shares of the company saw a spurt in volume by more than 1.10 times on BSE.

The company announced in a stock exchange that it will issue stock splits in the ratio of 1:10, converting equity shares with a face value of Rs 10 each into 10 equity shares with a face value of Re 1 each and it will also issue bonus shares in the ratio of 13:10, implying that shareholders will receive 13 bonus shares for every 10 shares held by existing shareholders as of the record date (post considering the split of shares subject to shareholders approval). The company verified the record date for bonus shares and stock split as tomorrow, February 24, 2023. 

Vinny Overseas Limited has a market cap of Rs 340 crore. It is in the business of producing and exporting textiles. Cotton and rayon fabrics are available for use in dresses, kurtis and shirtings. Vinny Overseas has clients all over the world. The firm reported positive results in its quarterly financial statement. 

The stock delivered multibagger gains of 307.63 per cent in less than 4 months whereas BSE Small-Cap Index is down by 6.2 per cent. Investors should keep an eye on this multibagger stock.