Multibagger Penny Stock Under Rs 50 Jumps As Board Is Likely To Announce Bonus Shares
The stock gave multibagger returns of 2,920 per cent in 3 years and a whopping 7,960 per cent since its listing.
The benchmark indices, BSE Sensex and NSE Nifty-50 are trading in red, down 0.03 per cent and down 0.05 per cent respectively. Among the individual stocks, Hardwyn India Ltd stood out with a remarkable surge of 12.98 per cent. The stock price appreciated from Rs 35.67 to Rs 40.30, accompanied by 3 times spurt in volume. The stock's 52-week high is Rs 51.77 and its 52-week low is Rs 26.10.
Hardwyn India Ltd informed that the meeting of the Board of Directors of the company is scheduled to be held on Thursday, November 14, 2024 at the Registered Office of the Company situated at B-101, Phase-1, Mayapuri, New Delhi South West Delhi, Delhi 110064 India to consider and approve the following matters(s):
- To consider, approve and take on record the (standalone) unaudited financial results of the company for the quarter and half year ended September 30, 2024.
- To consider, approve and take on record the (consolidated) unaudited financial results of the company for the quarter and half year ended September 30, 2024.
- The Issue of fully paid-up bonus equity shares to the members of the company.
- To increase the authorized share capital of the company and consequent amendments in memorandum and articles of association of the company, if any
- Consider and discuss any other items as may be decided by the Board of Directors of the company.
Hardwyn India Ltd, listed on both BSE and NSE, specializes in manufacturing architectural hardware and glass fittings for residential and commercial structures, providing comprehensive solutions. The company boasts a market capitalization of Rs 1,368 crore.
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Looking at the annual performance, Hardwyn India Ltd. continued its positive trajectory. Standalone net sales for the entire fiscal year (FY24) climbed 8.35 per cent to Rs 135.50 crore, and net profit grew by 8 per cent to Rs 9.75 crore compared to the previous year. The company's consolidated annual results were equally impressive, with net sales reaching Rs 157.84 crore and a net profit of Rs 10.23 crore in FY24. The stock gave multibagger returns of 2,920 per cent in 3 years and a whopping 7,960 per cent since its listing. Investors should keep an eye on this Small-Cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.