Rakesh Jhunjhunwala's portfolio multibagger stock; Board announced bonus shares!
The stock gave multibagger returns of 113 per cent in just 1 year and over 850 per cent in 3 years.
Raghav Productivity Enhancers Ltd informed that the Board of Directors of the Company have approved bonus shares in the ratio of 1:1 i.e., 1 (one) Equity Share for every 1 (one) existing equity share held as on record date to be fixed in this regard. The record date for the bonus issue will be within 2 months from the date of the Board’s approval i.e., by August 26, 2023.
RPEL is engaged in the manufacturing of quartz-based ramming mass, quartz powder, and tundish board. It sells its products under the brand name of “Raghav”. As of March 31, 2023, Rakesh Jhunjhunwala owns a 5.23 per cent stake in the company.
The company has a market cap of Rs 1,193 crore and reported stellar Quarterly Results and annual results for the year ended March 31, 2023. In FY23, net sales increased by 37.37 per cent to Rs 137.39 crore and net profit increased by 41.40 per cent to Rs 25.22 crore compared to FY22. As of March 2023, Rakesh Jhunjhunwala owns a 5.23 per cent stake in the company.
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On Friday, shares of RPEL plunged 2.42 per cent to Rs 1,038.95 per share with an intraday high of Rs 1,096 and an intraday low of Rs 1,021.05. The stock gave multibagger returns of 113 per cent in just 1 year and over 850 per cent in 3 years.
Investors should keep an eye on this stock.