Penny Stock Under Rs 30: Company Inks MoU for USD 2 Million Blockchain-Based Tokenization Platform Project – Set to Announce Bonus & Stock Split This Month!
The company’s shares have delivered an impressive multibagger return of over 130 per cent to its shareholders in just 1 year.
Sellwin Traders Ltd and Secorbit FZCO, UAE, have signed an MoU for a USD 2 million project to develop a blockchain-based tokenization platform. The platform will enable the tokenization of equities, bonds, and real-world assets, with a focus on scalability, security, and seamless integration with existing financial and blockchain ecosystems. It will undertake the development of a comprehensive blockchain-based tokenization platform over the next 24 months, an order received from Secorbit FZCO.
The Board of Directors of the company is scheduled to meet on September 25, 2024, to consider issuing bonus shares and approving a stock split, subject to shareholder and regulatory approval. The board will also review a business proposal focused on potential synergies and forward integration to meet evolving customer needs.
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Incorporated in 1980, Sellwin Traders Ltd operates in the finance and real estate sectors.
On Tuesday, the shares of Sellwin Traders Ltd rallied and closed at around Rs 28.01 per share on the BSE. The company’s current market capitalization stands at Rs 56.75 crore. Additionally, the shares have delivered an impressive multibagger return of over 130 per cent in the past 1 year.
As per the Quarterly Results, in the Q1 FY25, Sellwin Traders Ltd recorded a revenue of Rs 10.77 crore compared to Rs 10.03 crore. The operating profit stood at Rs 0.79 crore. The net profit stood at Rs 0.62 crore compared to a profit of Rs 0.34 crore. Looking at the annual performance, the company generated a revenue of Rs 39.96 crore in FY24 compared to Rs 39.60 crore. The operating profit for FY24 was Rs 1.12 crore with an operating profit margin of 2.80 per cent. The company reported a net profit of Rs 0.86 crore compared to a net profit of Rs 0.01 crore in FY23.
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Disclaimer: The article is for informational purposes only and not investment advice.