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

The stock gave multibagger returns of 427.26 per cent in just 6 months.

On Friday, one of the gainers on NSE, shares of Ascom Leasing & Investments Limited surged 1.16 per cent from its previous closing of Rs 434.95 per share to Rs 440. The stock gave multibagger returns of 427.26 per cent in just 6 months. The stock also traded at a new 52-week high of Rs 440.  

Recently, the company announced that it had received in-principal approval only for bonus issues and proposed allotment of 39,04,726 equity shares of Rs 10 each as bonus shares at a ratio of one new equity share for every two existing equity shares. The company confirmed the record date as Monday, March 6, 2023.  

Ascom Leasing & Investments Limited operates as a non-banking financial company. The Company offers loans against properties, automobiles and home renovation. Ascom Leasing & Investments serves customers in India.   

The company has a market capitalization of Rs 344 crore and a one-year CAGR of 873 per cent. In comparison to FY21, net sales increased by 5.1 per cent and net profit increased by 4.13 per cent in FY22. The company's shareholding pattern as of September 2022 is as follows: promoters own the majority of the shares (73.98 per cent), with the general public owning the remainder (26.02 per cent).  

Investors should keep this SME multibagger stock under their watch list.