Multibagger penny stock under Rs 15: Bonus shares, dividend, buyback, and new collaboration on the horizon!
The stock gave multibagger returns of 800 per cent in 2 years and 5 years it returned over 2,750 per cent.
IFL Enterprises Ltd informed that the meeting of the Board of Directors of the company is scheduled to be held on Wednesday, November 01, 2023, at the registered office of the company, inter-alia, to transact the following business items:
Share Buyback Proposal: The board will discuss and evaluate a proposal for a share buyback program of up to 10 per cent of paid-up capital and free reserves of the company. The proposed buyback price is up to Rs 17 per share. This initiative aims to enhance shareholder value and optimize the capital structure.
dividend Distribution: The board will consider the payment of interim dividends on the equity share capital of the company for the Financial Year 2023-2024. This payout is a testament to the company's commitment to rewarding its investors.
bonus Share Issuance: The board will discuss the issuance of bonus shares to existing shareholders. This decision aims to further enhance shareholder equity and promote investor confidence
Collaboration with Charter Papers Pty Ltd: The board will deliberate on the collaboration with Charter Paper Pty Ltd, a strategic partner based in Australia to support the company's upcoming operations
5. To consider any other matter with the permission of the chairman
On Wednesday, one of the Top Losers on BSE, shares of IFL Enterprises Ltd plunged 20 per cent to 9.07 per share with an intraday high of Rs 11.72 and an intraday low of Rs 9.07. The stock gave multibagger returns of 800 per cent in 2 years and 5 years it returned over 2,750 per cent.
IFL Enterprises Company is involved in the business of trading in goods e.g., fabric and related products as well as shares and securities within permissible limits prescribed by regulators such as RBI or SEBI.
Talking about the financials, IFL Enterprises has a market cap of Rs 207.39 crore. The company reported amazing numbers in its Quarterly Results (Q4) and annual results (FY23). The net profit recorded was Rs 0.51 crore in FY23 compared to a net loss of Rs 0.21 crore in FY22. The stock has a 52-week high of Rs 16.90 and a 52-week low of Rs 7.33.
Disclaimer: The article is for informational purposes only and not investment advice.
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