Debt-free penny stock under Rs 6; Board likely to announce bonus shares!

The stock is up over 70 per cent from its 52-week low of Rs 3.27 per share.

Ashirwad Capital Ltd informed that the Meeting of the Board of Directors of the company will be held on Friday, May 10, 2024, at the Registered Office of the company to discuss and decide inter-alia following items: -

1. To consider and approve the audited financial results for the quarter and year ended on March 31, 2024.

2. To consider the proposal for declaration of bonus issue of equity shares.

Established in 1985, Ashirwad Capital Ltd is a non-bank finance company that primarily focuses on investing in stocks and securities. Their business activities also include manufacturing decorative items like carvings of precious and semi-precious stones, paintings, and jewellery. Additionally, they generate income through property-related compensation.

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According to the financials, Ashirwad Capital has a market cap of Rs 33 crore with a 3-year CAGR of 30 per cent. The company is debt-free. According to the shareholding pattern, the promoters of the company own 51 per cent and the rest 49 per cent stake is owned by the public.

The stock has a 52-week high of Rs 8.24 per share and a 52-week low of Rs 3.27 per share. The stock is up over 70 per cent from its 52-week low of Rs 3.27 per share.

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