Multibagger Update: Don’t miss action in this stock that has announced bonus shares, post 15 per cent revenue growth in Q3!
Today, shares of the company saw a spurt in volume by more than 2.69 times on BSE.
Astral Ltd recently announced bonus shares for the company’s shareholders in the ratio of 1:3. The company verified and fixed the record date for bonus shares as Tuesday, March 14, 2023. As of the record date, shareholders are entitled to the issuance of bonus equity shares in the proportion of 1 equity share worth Rs 1 for every 3 existing equity shares worth Rs 1.
Today, shares of Astral Ltd plunged 1.92 per cent to Rs 2035.15 per share from its previous closing of Rs 2075. Today, shares of the company saw a spurt in volume by more than 2.69 times on BSE.
Astral Ltd has a market cap of Rs 41,000 crore. The is engaged in manufacturing pro-India plumbing and drainage systems in the country. It has also forayed into the adhesive business with the aim to manufacture pro-India plumbing and drainage systems in the country.
Recently, the company released its December quarter results (Q3), wherein the company reported positive results. In Q3FY23, the company reported net sales of Rs 1,268 crore compared to net sales of Rs 1,103 crore in Q3FY22, a revenue growth of 15 per cent.
The stock has a 52-week high of Rs 2,654 and a 52-week low of Rs 1584. From Rs 899.93 per share to Rs 2075 per share, the stock gave multibagger returns of 130.57 per cent in the past 3 years. Investors should keep an eye on this Large-Cap stock.