Bonus shares & stock split: Heavy buying in this multibagger micro-cap stock, hitting 10 consecutive upper circuits and 52-week highs!

From Rs 17.10 (52-week low) to Rs 137.85 per share, the stock gave multibagger returns of over 700 per cent.

Ishan International Ltd informed that the Board of Directors of the company is proposing a triple boost to its capital structure. Firstly, it will expand its authorized share capital from Rs 10 crore to Rs 23 crore by creating 1.3 crore new shares, increasing its fundraising potential.

Secondly, it will implement a 1:10 stock split, dividing each existing Rs 10 share into 10 shares of Rs 1 each, enhancing liquidity and potentially attracting a wider investor base. Finally, the company will reward shareholders with a generous 2:1 bonus issue, granting them two additional Rs 1 shares for every existing one they hold, effectively doubling their equity stake.

These combined measures aim to strengthen the company's financial flexibility, improve market accessibility, and reward loyal shareholders, propelling its future growth. The company fixed the record date for bonus shares and stock split as Thursday, January 25, 2024.

Today, shares of Ishan International Ltd hit a 5 per cent upper circuit to Rs 137.85 per share from its previous closing of Rs 131.30. The stock also made a fresh new 52-week high of Rs 137.85 and its 52-week low of Rs 17.20.

Incorporated in 1995, Ishan International Limited is engaged in contracting and building projects that focus on supplying machines, erection/installation, commissioning, and operational training for sugar plants, jaggery plants, pharmaceutical plants, hydropower plants, and pollution control systems.

The company has a market cap of Rs 99.36 crore. According to half-yearly results and annual results, the company reported amazing numbers. From Rs 17.10 (52-week low) to Rs 137.85 per share, the stock gave multibagger returns of over 700 per cent. Investors should keep an eye on this micro-cap stock.

Disclaimer: The article is for informational purposes only and not investment advice.