High ROE and ROCE multibagger stock; Board likely to announce bonus shares and stock split!
The stock delivered multibagger returns of over 400 per cent in just 6 months with an ROE of 91.34 per cent and a ROCE of 114.29 per cent.
Varanium Cloud Ltd informed that the Meeting of the Board of Directors will be held on Monday, March 20, 2023, inter-alia, to consider and approve the following business items: 1) To recommend and approve the issue of bonus shares to the equity shareholders of the company. 2) Increase in the authorized share capital of the company and subsequent alteration to the Memorandum of Association of the company if any. 3) To consider and discuss the split of equity shares of the company.
On Friday, shares of Varanium Cloud Ltd surged 5 per cent upper circuit to Rs 654.80 per share from its previous closing of Rs 623.65. The 52-week high of the stock is Rs 1602 and the 52-week low of Rs 146.50.
Varanium Cloud Limited is a technology company focused on providing services surrounding digital audio, video and financial blockchain (for PayFac) based streaming services.
Talking about the financials, Varanium Cloud has a market cap of Rs 627 crore. The company reported excellent Quarterly Results. In Q3FY23, net sales skyrocketed 431.91 per cent and net profit skyrocketed 108.36 per cent compared to Q3FY22. The stock has an ROE of 91.34 per cent and a ROCE of 114.29 per cent.
The stock gave multibagger returns of 409.37 per cent in just 6 months. Investors should keep this stock under their radar.