Multibagger in less than 6 months: This small-cap company announces bonus issue and stock split
Shares of the company have jumped more than 550 per cent in less than 6 months.
Rhetan TMT Ltd has delivered multibagger returns to its shareholders in less than 6 months. During this period, the company’s share price jumped from Rs 66.50 on September 5, 2022, to Rs 442.00 on January 17, 2023, an increase of 564.66 per cent in 5 month holding period.
On January 17, 2023, the company informed in the exchange filing that it is considering a stock split and it will also issue 11 shares for every 4 Equity Shares held by the Equity Shareholders of the Company. The company has also announced a sub-division of 1 Equity share of the face value of Rs 10 each fully paid-up to 10 Equity shares of the face value of Rs 1 each fully paid-up. For the same purpose, the company has kept a record date on January 31, 2023.
Rhetan TMT Ltd is engaged in the manufacturing of premium quality TMT Bars confirming ISI Standards. Its products have been used in the construction of dams, bridges, residential and commercial towers and major infrastructure projects in Gujarat.
Today, the stock opened at Rs 443.00, with a high and low of Rs 444.00 and Rs 442.00. The stock previously closed at Rs 445.00. Today, the stock closed trading at Rs 442.00, down by 0.67 per cent. The stock has a 52-week high of Rs 479.00 and a 52-week low of Rs 50.60.