Stock hits back-to-back 44 consecutive upper circuit and 52-week high; This multibagger announced 1:1 bonus share and 1:5 stock split - Know more here!

The stock gave multibagger returns of 264.95 per cent in just 3 months and 177 per cent year to date.

On Thursday, March 07, 2024, shares of Colab Cloud Platforms Ltd were locked in a 2 per cent upper circuit to Rs 182 per share from its previous closing of Rs 178. The stock also made a fresh 52-week high of Rs 182 per share. The stock has been hitting non-stop 44 consecutive upper circuits & 52-week highs.

Colab Cloud Platforms Ltd engages in the provision of financial intermediary services. It offers software, hardware, programs, data processing, and consultancy services.

The Board of Directors of the company have approved a stock split in the ratio 5:1 i.e., sub-division of 1 equity share of the face value of Rs 10 each fully paid-up into 5 equity shares of the face value of Rs 2 each fully paid-up and issue of 5,10,00,000 equity bonus shares in the ratio 1:1 i.e., 1 bonus equity shares of the face value of Rs 2 each fully paid up for every 1 existing equity shares of face value of Rs 1 each fully paid up. The company fixed the record date for bonus shares and stock split as Tuesday, March 19, 2024.

The company has a market cap of over Rs 186 crore. According to Quarterly Results, the revenue doubled by 100 per cent to Rs 1.12 crore and net profit also zoomed by 102 per cent to Rs 0.88 crore in Q3FY24 compared to Q3FY23.

The stock gave multibagger returns of 264.95 per cent in just 3 months and 177 per cent year to date.

 Investors should keep an eye on this micro-cap stock.

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