Bonus Share & Stock Split: This small-cap multibagger stock hits 20 per cent upper circuit as stock trades ex-bonus and ex-split today!
The stock gave multibagger returns of 623.98 per cent from its 52-week low of Rs 2.21 per share.
On Thursday, the benchmark indices were trading flat. BSE Sensex Index was down by 0.05 per cent at 59,630 and NSE Nifty-50 Index was down 0.08 at 17,607.
Despite the market trading flat, shares of IFL Enterprises Ltd hit 20 per cent upper circuit to Rs 16 per share from its previous closing of Rs 13.35, being one of the Top Gainers on BSE. The stock also traded at a new 52-week high of Rs 16 per share. Currently, the shares of the company are trading at Rs 15.05 per share, up 12.73 per cent.
The company previously announced bonus shares with a 1:4 ratio and stock split from Rs 10 to Rs 1, both of which are currently trading ex-bonus and ex-split today. Before this bonus issue and stock split, the company has a bonus issue of share in the ratio 1:1 which had an ex-bonus date of September 21, 2022.
IFL Enterprises Ltd (BSE Script Code: 540377) is in the business of trading in goods, such as fabric and related products, as well as shares and securities within the limits set by regulators such as the RBI or SEBI. Today, shares of the company saw a spurt in volume by more than 4 times on BSE.
In terms of finances, IFL Enterprises has a market cap of Rs 343 crore. In its Quarterly Results, the company reported astounding figures (Q3). In Q3FY23, the net profit was Rs 0.15 crore, compared to a net loss of Rs 2.36 crore in the same quarter last year (Q3FY22).
The stock gave multibagger returns of 623.98 per cent from its 52-week low of Rs 2.21 per share. Investors should keep an eye on this stock.