Multibagger from its 52-week low: This micro-cap stock to pay bonus shares for the first time ever; Ex-date tomorrow!

The stock gave multibagger returns of 103 per cent from its 52-week low of Rs 109 per share.

The Indian stock market was in green today, with the benchmark indices Sensex and Nifty trading higher. The Sensex surged by 0.58 per cent at 66,266, while the Nifty is up by 0.59 per cent at 19,727. About 2,240 shares have advanced, 1,439 have declined, and 128 were unchanged on BSE.
Today, shares of Sunrise Efficient Marketing Ltd plunged 4.55 per cent to Rs 215 per share from its previous closing of Rs 225.25. The lot size is of 500 shares.

The Board of Directors of Sunrise Efficient Marketing Ltd recommended a bonus issue of equity shares in the ratio of 1:1 i.e., 1 new equity share of Rs 10 each for every 1 existing equity share of Rs 10 each held by the company's shareholders as of the record date, subject to shareholder approval. The company set the record date for bonus shares as Friday, September 08, 2023.

Sunrise Efficient Marketing Ltd (BSE: 543515) is a leader in the distribution business of automation, drives, gearboxes, motors, pumps, oils, FMCG products, etc. SEML has a market cap of Rs 107.50 crore. The net sales increased by 77.34 per cent to Rs 60.81 crore and net profit increased by 280.92 per cent to Rs 6.59 crore in H2FY23 over H2FY22. The net sales increased by 50.66 per cent to Rs 96.83 crore and net profit increased by 63.60 per cent to Rs 8 crore in FY23 over FY22.

The company has strategically added new feathers to its cap in terms of expanding infrastructure, the addition of new business lines and collaborating with different industry leaders. The objective is to provide high-quality and energy-efficient products and automation solutions using the latest technology to its customers.

The stock gave multibagger returns of 103 per cent from its 52-week low of Rs 109 per share. Investors should keep an eye on this micro-cap stock.

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