8,500 per cent multibagger returns in this small-cap stock; Board announces 5:1 stock split – Check record date inside!
The stock gave multibagger returns of 145 per cent in just 1 year, 3,720 per cent in 3 years and a whopping 8,500 per cent in 5 years.
On Tuesday, shares of Magellanic Cloud Ltd gained 1.06 per cent to Rs 641.75 per share with an intraday high of Rs 648.9 and an intraday low of Rs 638. The stock’s 52-week high is Rs 688 and its 52-week low is Rs 261.
The Board of Directors of the company announced a stock split of equity shares in the ratio 5:1 i.e., the split of equity shares having a face value of Rs 10 in 5 shares having a face value of Rs 2 each. The board fixed the record date for the stock split as Saturday, July 27, 2024 while the ex-date is Friday, July 26, 2024.
Magellanic Cloud Limited, originally founded in 1981 as South India Projects Limited, is a global IT services company with a presence in Europe, the USA, and Asia. Specializing in software development, consulting, and human resource solutions, the company offers a range of services including human capital management, digital transformation consulting, DevOps implementation, quality assurance, and drone solutions. Their focus lies in modernizing the digital experience for both employees and customers, while also providing recruitment and placement services.
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The company has a market cap of over Rs 7,500 crore and has delivered good profit growth of 67.2 per cent CAGR over the last 5 years. The shares of the company have an ROE of 30 per cent and an ROCE of 27 per cent. The stock gave multibagger returns of 145 per cent in just 1 year, 3,720 per cent in 3 years and a whopping 8,500 per cent in 5 years. Investors should keep this IT stock under the radar.
Disclaimer: The article is for informational purposes only and not investment advice.
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