Penny stock under Rs 100 to keep under the radar as Board is likely to announce stock split!

The stock is up by 57 per cent from its 52-week low of Rs 49.68 per share.

Rajshree Polypack Ltd informed that the meeting of the Board of Directors of the company is scheduled to be held on Tuesday, August 06, 2024, to consider and approve the following business transactions:

1. To consider and approve the proposal of sub-division/split of the equity shares of the company in such manner as may be determined by the Board of Directors, subject to approval of the members and such regulatory/statutory authorities as may be required.

2. Any other business matter with the permission of the chair

Rajshree Polypack Ltd, established in 2011, is a leading manufacturer of plastic packaging solutions. Specializing in barrier plastic sheets, thermoformed packaging, and injection moulded products, the company caters to the dairy, food, and beverage industries. Their product range includes polypropylene, high barrier sheets, PET, HIPS, laminated sheets, and packaging solutions for various sectors. With three manufacturing units and a capacity of 25,000 MT, Rajshree Polypack serves renowned clients like Epigamia, Nestle, Havmor, Mother Dairy, Amul, Ferrero, Britannia, Kellog's, Cafe Coffee Day, Gowardhan, etc. 

On Friday, shares of Rajshree Polypack Ltd gained 0.42 per cent to Rs 78 per share with an intraday high of Rs 81.40 and an intraday low of Rs 75. The company has a market cap of Rs 286 crore. The stock is up by 57 per cent from its 52-week low of Rs 49.68 per share. Investors should keep an eye on this micro-cap stock.

Disclaimer: The article is for informational purposes only and not investment advice. 

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