Multibagger Broking Firm Approves 1:1 Bonus; Stock Hits 52-Week High Today; Revenue and Profits Double in Q1 FY25!
The company’s shares have delivered a multibagger return of over 140 per cent to its shareholders in just 1 year.
This Small-Cap company a prominent provider of financial services in stock broking, primary market operations, mutual funds, insurance, and financial planning, has taken a significant step forward to reward its shareholders. During the Extraordinary General Meeting (EGM) held today, August 22, 2024, at the company's corporate office, the shareholders approved a key resolution to capitalize a substantial sum from the Securities Premium Account.
bonus Issue by Monarch Networth Capital:
The company’s shareholders have given their nod to the capitalization of Rs 39,23,04,690 (Rupees Thirty-Nine Crores Twenty-Three Lakhs Four Thousand Six Hundred Ninety Only) from the Securities Premium Account. This capitalization will be executed by issuing bonus equity shares in a 1:1 ratio. Eligible shareholders will receive 1 (One) fully paid-up equity share of Rs 10 (Rupees 10 only) for every 1 (One) existing fully paid-up equity share of Rs 10 (Rupees 10 only) held as of the Record Date.
At the start of the day's trading session, shares of Monarch Networth Capital opened at Rs 794.95 per share, compared to the previous day's closing figure of Rs 786 per share on the BSE. Finally, the shares closed at Rs 797.70 per share. The company's current market capitalization stands at Rs 2701.77 crore. Additionally, the shares have delivered a multibagger return of over 140 per cent in just 1 year.
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As per the Quarterly Results, in the Q1 FY25, Monarch Networth Capital recorded a revenue of Rs 84 crore compared to Rs 42 crore. The operating profit stood at Rs 56 crore. The net profit stood at Rs 40 crore compared to a profit of Rs 17 crore. Looking at the annual performance, the company generated a revenue of Rs 271 crore in FY24. The operating profit for FY24 was Rs 171 crore with a net profit of Rs 123 crore compared to a net profit of Rs 43 crore in FY23.
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Investors must keep this small-cap stock on their radar.
Disclaimer: The article is for informational purposes only and not investment advice.