Low PE penny stock under Rs 5 hit upper circuit As Board likely to announce bonus shares
The stock is down by 46 per cent from its 52-week high of Rs 3.77 while it is up by 70 per cent from its 52-week low of Rs 1.19 per share.
Mayukh Dealtrade Limited has announced that its Board of Directors will convene on December 2, 2024, at the company's registered office to deliberate on a proposal for a bonus issue of shares to its shareholders. This decision, along with other matters approved by the Chairman, will be discussed and potentially approved during the meeting.
Mayukh Dealtrade Ltd, established in 1980, manufactures and sells burners. The company's product line includes camphor sticks and various aroma burners, such as Mantra Aroma Burner, Brilliance with Timer, and Navkar Mantra Aroma Burner. In July 2021, they launched the Brilliance with Timer aroma burner and expanded their business by acquiring a 60 per cent stake in Mayukh Medi Care Private Limited, a subsidiary focused on medical and general stores.
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On Wednesday, shares of Mayukh Dealtrade Ltd hit a 5 per cent upper circuit to Rs 2.02 per share from its previous closing of Rs 1.93 with an intraday high of Rs 2.02 and an intraday low of Rs 1.84. The shares of the company saw a spurt in volume by more than 2.66 times on BSE. The stock is down by 46 per cent from its 52-week high of Rs 3.77 while it is up by 70 per cent from its 52-week low of Rs 1.19 per share. The company has a market cap of Rs 24.12 crore and investors should keep an eye on this penny stock.
Disclaimer: The article is for informational purposes only and not investment advice.