Multibagger Penny Stock Under Rs 20 Hit Upper Circuit As Board Announces Record Date For 1:1 Bonus Share

From Rs 4.23 (52-week low) to Rs 19.50 per share, the stock gave multibagger returns of 361 per cent.

The Board of Directors of Spright Agro Ltd. approved two key measures: 1) increasing the company's authorized share capital from Rs 55 crore to Rs 108 crore, creating room for future growth. 2) Issuing a bonus share in the ratio of 1:1 to existing shareholders. This means for every share a shareholder holds on the record date; they will receive one additional share. The bonus shares will be issued from the company's available share premium account. The Board fixed the record date for bonus shares as Friday, 29th November 2024

On Monday, shares of Spright Agro Ltd were locked in a 2 per cent upper circuit to Rs 19.50 per share from its previous closing of Rs 19.12. In the recent trading sessions, the stock has been hitting back-to-back upper circuits.

Spright Agro Ltd, formerly known as Tine Agro Ltd, is an Indian company established in 1994 that deals in various agricultural products and related activities. Their business encompasses a wide range. They develop industries based on agricultural and forest resources. They also directly participate in farming by planting, growing, and cultivating various crops, including those grown in forests, on plantations, and in greenhouses. Additionally, they import, export, wholesale, retail, and trade in all kinds of agricultural and other commodities, demonstrating their involvement across the entire agricultural supply chain.

The company has a market cap of Rs 1,045 crore and the company’s 100 per cent stake is owned by the public shareholders. From Rs 4.23 (52-week low) to Rs 19.50 per share, the stock gave multibagger returns of 361 per cent.

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