Madhusudan Kela-backed multibagger small-Cap financial service stock; Set to announce bonus shares soon!

Now, here comes an interesting fact - ace investor Madhusudan Murildhar Kela holds 12.06 per cent shares of the company.

The NSE benchmark index Nifty 50 has notched a double century and surpassed the landmark level of 21,850 on Friday, led by IT stocks and Reliance Industries. The Nifty IT index is up by a staggering 5 per cent, followed by Nifty PSU Bank.

Broader market indices are in the green, but they are relatively underperforming the frontline indices. One stock that market participants should keep an eye on is the Small-Cap stock - Choice International Ltd. The stock is up by over 2.5 per cent and has marked a fresh 52-week high on Friday at Rs 537.45 per share on NSE.

Choice International Ltd was incorporated in 1993. It is an integrated and diversified financial services group, providing a wide range of financial services, including Broking & Distribution, Investment Banking, Financial Services to Business Advisory, Regulatory Compliances to Government authorities & other corporate entities, Retail loan distribution, Mutual Fund distribution, technical services, and other ancillary services.

Interestingly, the meeting of the Board of Directors of Choice International Ltd is scheduled to be held on Monday, January 15, 2024, to consider and recommend a proposal for the Declaration of bonus Shares to the Equity Shareholders of the Company, subject to the approval of shareholders.

The last bonus that Choice International had announced was in 2022 in the ratio of 1:1, and the stock has delivered multibagger returns from the lows of December 2022 of around Rs 118 per cent. Now, here comes an interesting fact - ace investor Madhusudan Murildhar Kela holds 12.06 per cent shares of the company.

Watch out for this stock, and let’s see whether the company maintains its bonus ratio of 1:1 like it did last time or if some exciting surprise is up the sleeves. What do you think? Let us know in the comment section.

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