Multibagger stock under Rs 40: Don't miss the action in this micro-cap stock that has announced bonus shares!
The stock gave multibagger returns of 152.39 per cent from its 52-week low of Rs 14.85 per share.
On Tuesday, the Indian Indices started the day higher. The BSE Sensex Index is up 0.50 per cent at 61,417.91. In the broader market, indices were trading higher, with the BSE Mid-Cap index up 0.86 per cent and the BSE Small-Cap index up 0.87 per cent, respectively.
Shares of SRU Steels surged 5 per cent upper circuit to Rs 37.48 per share from its previous closing of Rs 35.70. The stock traded at a new 52-week high of Rs 37.48 per share.
The stock has hit back-to-back upper circuits in recent trading stocks because this micro-cap company announced bonus shares in the ratio 1:2 to its shareholders as of the record date. The company confirmed the record date for bonus shares as Wednesday, May 03, 2023.
SRU Steels Limited trades and wholesales steel and iron products. The company focuses on trading in various types of steel products, as well as the 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 152.39 per cent from its 52-week low of Rs 14.85 per share.
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