Keep this multibagger property leasing company’s stock under radar as Board is likely to announce bonus shares after 19 years!
The stock gave multibagger returns of 115 per cent in just 1 year and a whopping 315 per cent in 3 years.
As previously informed on July 24, 2024, regarding the Board Meeting scheduled for July 31, 2024, we hereby notify that the Board may consider issuing bonus shares to existing shareholders, as required by the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company last announced bonus shares in the ratio of 4:1 in 2005.
The stock name is The Phoenix Mills Ltd.
Phoenix Mills Ltd is a leading Indian real estate company primarily focused on developing and operating upscale retail malls. With a portfolio of approximately 0.64 million square meters of retail space across nine malls in key Indian cities, the company generates the majority of its revenue (81 per cent) from property-related services such as mall leasing and commercial property development. The remaining 19 per cent comes from its hospitality business. Phoenix Palladium in Mumbai is their most profitable mall, and their overall real estate development footprint extends to over 2.11 million square meters.
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On Friday, shares of Phoenix Mills Ltd ended the day in green, up 0.93 per cent to Rs 3,533.80 per share with an intraday high of Rs 3,593.70 and an intraday low of Rs 3,494.20. The company has a market cap of over Rs 60,000 crore and has delivered good profit growth of 23.8 per cent CAGR over the last 5 years. The stock gave multibagger returns of 115 per cent in just 1 year and a whopping 315 per cent in 3 years. Investors should keep an eye on this mid-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.