Penny stock under Rs 25 hit 20 per cent upper circuit as Board is likely to announce stock split!
At the closing bell, shares of the company were trading at Rs 24.13 per share, up 18.93 per cent with a spurt in volume by more than 8 times on BSE.
Sacheta Metals Ltd informed you that the meeting of the Board of Directors of the company will be held on Friday, September 20, 2024, at 11:00 a.m. at the registered office of the company to transact the following businesses: To Sub-divide or Split the shares of the company from the face value of Rs 10 each to Rs 2 each (after sub-division of shares) and alteration in the authorised share capital of the company by altering the capital clause of memorandum of the company.
Sacheta Metals Ltd is a prominent manufacturer and exporter of aluminium, stainless steel, mild steel housewares and kitchenware utensils. Established in 1990, the company has a diverse product portfolio that includes tawa, nonstick cookware, kettles, milk cans, fry pans, rice strainers, plates, cups, stainless steel kitchenware, and various other utensils. The company's registered office and manufacturing unit are located in Talod, Gujarat, where they have a significant production capacity of approximately 5,400 MTPA for aluminium sheets and 1,800 MTPA for aluminium utensils.
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Sacheta Metals Ltd exports its products to various countries, including South Africa, Mombasa, Somalia, Congo, Namibia, Kobango, Dammam, Ethiopia, Muscat, Yemen, France, Mauritius, Doha, Jeddah, Riyadh, Aden, South Africa, Hong Kong, Dubai, Kuwait, Singapore, Nacala, Malavi, Djibouti and the Republic of Congo, among others. The company has a market cap of 56 crore and reported positive numbers in its Quarterly Results (Q1FY25) and annual results (FY24).
On Wednesday, shares of Sacheta Metals Ltd hit 20 per cent upper circuit to Rs 24.35 per share from its previous closing of Rs 20.29 per share. The stock is up by 41.84 per cent from its 52-week low of Rs 17.16 per share. At the closing bell, shares of the company were trading at Rs 24.13 per share, up 18.93 per cent with a spurt in volume by more than 8 times on BSE.
Disclaimer: The article is for informational purposes only and not investment advice.
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