Don’t miss action in this multibagger stock that has announced bonus shares!

The stock gave multibagger returns of 330 per cent in just 6 months.

Evans Electric Ltd informed the exchange that it will issue bonus shares in the ratio 1:1 which means that shareholders will receive 1 bonus share for each share held by the existing shareholder. The corporation verified that the record date for the issuance of bonus shares is Friday, February 10, 2023.     

Today, shares of Evans Electric Ltd shares surged 4.45 per cent to an intraday high of Rs 336 per share from its previous closing of Rs 321.70. The stock gave multibagger returns of 330 per cent in just 6 months. In addition, the stock gave a multibagger return of 218 per cent over 1 year.   

Evans Electric has a market cap of Rs 46 crore. It is engaged in manufacturing and distributing industrial machinery. The company provides static electrical equipment, shafts, bearing housings, stator bodies and slip ring motor rewinds. Evans Electric serves customers in India.  

The company reported a positive set of results in the financial statements, with net profit increasing 7-fold in H1FY23. Over the course of a year, the company has delivered good profit growth CAGR of 218 per cent. In FY22, net profit rose by 41.38 per cent compared to FY21.   

The shares of the company have a 52-week high of Rs 411.65 and a 52-week low of Rs 70. Investors should keep their eye on this Small-Cap SME stock.