Multibagger stock under Rs 40: Don't miss action in this stock that has announced bonus share!
The stock gave multibagger returns of 122.22 per cent from its 52-week low of Rs 14.85 per share.
The domestic benchmark indices finished the day flat on Friday. The BSE Sensex Index is up 0.04 per cent at 57,655.06. In the broader market, indices were trading lower, with the BSE Mid-Cap index falling 0.36 per cent and the BSE Small-Cap index falling 0.27 per cent, respectively.
Shares of SRU Steels plunged 2.59 per cent to Rs 31.25 per share from its previous closing of Rs 32.07 with day’s high of Rs 33 and day’s low of Rs 30.65. The stock traded at a new 52-week high of Rs 33 per share. On April 21, 2023, "Sushil Goel" brought 84,100 shares at Rs 31 per share of the company aggregating to Rs 0.26 crore via a bulk deal.
The stock has hit back-to-back upper circuits in recent trading stocks because this small-cap company announced bonus shares in the ratio 1:2 to its share holders as of the record date. The company confirmed the record date for bonus share as Wednesday, May 03, 2023.
SRU Steels Limited is involved in trade and wholesale of steel and iron products. The company focuses on trading in various types of steel products, as well as sale of steel products for infrastructure and housing projects.
The financials of the company were excellent in Quarterly Results and annual results. In Q3FY23, net sales rose by 13 per cent and net profit skyrocketed 900 per cent compared to Q3FY22. In the last five trading sessions, the stock has gained over 18 per cent.
The stock gave multibagger returns of 122.22 per cent from its 52-week low of Rs 14.85 per share.
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