Multibagger Penny Stock Under Rs 30 Hit Lower Circuit After Appointing Deloitte Touche Tohmatsu India LLP for Preferential Issue Management
The stock is up by 81 per cent from its 52-week low of Rs 15.47 per share and gave multibagger returns of 680 per cent in 5 years.
On Thursday, shares of Saboo Sodium Chloro Ltd hit a 5 per cent lower circuit to Rs 27.27 per share from its previous closing of Rs 28.70 per share. The shares of the company saw a spurt in volume by more than 3 times on BSE.
Saboo Sodium Chloro Limited (SSCL) has appointed Deloitte Touche Tohmatsu India LLP (Deloitte) as its professional advisor to manage an upcoming preferential issue. This strategic move underscores SSCL's commitment to robust corporate governance and regulatory compliance. Deloitte's expertise will be instrumental in ensuring a smooth and successful execution of the preferential issue, aligning with industry best practices and regulatory requirements.
Saboo Sodium Chloro Limited (SSCL) is diversifying into the hospitality sector with a significant investment of Rs 485 crore. The company has signed two MoUs with the Rajasthan government to develop two luxurious 'Samskara Resorts' in Udaipur and Jodhpur. The Udaipur resort, requiring a Rs 400 crore investment, is expected to create 400 jobs, while the Jodhpur resort, with an Rs 85 crore investment, will generate 150 jobs. Both resorts are scheduled to open in 2026 and 2027, respectively. The Rajasthan government's comprehensive subsidy scheme, offering benefits like a 20 per cent capital subsidy, tax exemptions, and additional incentives, will contribute to substantial savings of over Rs 150 crore over ten years. By leveraging government support and its strong financial foundation, SSCL aims to establish a strong presence in the Indian hospitality industry.
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About the Company
Saboo Sodium Chloro Ltd, established in 1993, is a diversified conglomerate with a strong focus on salt production and a diverse range of other ventures. The company is a leading manufacturer and seller of salt, offering a variety of products including Surya Salt, Tota Salt, and Saboo Salt. Beyond salt, Saboo Sodium Chloro Ltd is involved in the production and distribution of spices, guar gum, and renewable energy through wind and solar power projects. Additionally, the company undertakes turnkey projects for salt iodization units and is developing ambitious infrastructure projects like ropeways and luxury hotels and resorts.
The company has a market cap of over Rs 110 crore with a 5-year stock price CAGR of 45 per cent. The stock’s 52-week high is Rs 34.72 and its 52-week low is Rs 15.47. The stock is up by 81 per cent from its 52-week low of Rs 15.47 per share and gave multibagger returns of 680 per cent in 5 years. Investors should keep an eye on this micro-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.