Multibagger penny stock below Rs 35 with 1,350 per cent return; Board likely to announce bonus shares!

The stock gave multibagger returns of over 100 per cent in just 1 year, 460 per cent in 2 years and a whopping 1,340 per cent in 3 years.

SBC Exports Ltd informed that the Board of Directors of the Company will be scheduled to be held on Tuesday, December 05, 2023, at 3.00 P.M. at the corporate office of the company to transact, inter-alia, consider and approve the following business:

1. To increase in authorized share capital of the company and subsequent alteration to the memorandum of association of the company.

2. To recommend and approve the issue of bonus shares to the equity shareholders of the company.

3. To discuss any other matter related to the bonus issue.

4. To discuss any other business with the permission of the chair.

On Friday, shares of SBC Exports Ltd surged 3.23 per cent from their previous closing of Rs 26 per share to an intraday high of Rs 26.84 per share. At 03:30 pm, shares of the company ended the day in green, up 0.31 per cent to Rs 26.08 per share.

SBC Exports Ltd was incorporated in 2011 with a market cap of Rs 646.5 crore. It is engaged in the trading & manufacturing of garments, manpower supply services and tour operator services. Currently, the company has 70 distributors in India and receives an average of 75 new projects every year. 

The net sales decreased by 4.55 per cent to Rs 35.22 crore and net profit increased by 35.63 per cent to Rs 2.17 crore in Q2FY24 compared to Q2FY23. The net sales increased by 8 per cent to Rs 222 crore and net profit skyrocketed by 133.33 per cent in FY23 over FY22.

The stock gave multibagger returns of over 100 per cent in just 1 year, 460 per cent in 2 years and a whopping 1,340 per cent in 3 years. Investors should keep an eye on this micro-cap.

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