Multibagger stock under Rs 100: Board likely to announce rights issue; hits back-to-back 52-week highs!
The stock is up 52 per cent in just 2 years and gave multibagger returns of over 125 per cent in 3 years.
Emerald Leisures Limited owns and operates as a hotel. The company offers an extensive portfolio of guest rooms, suites, sports facilities, spa centres, library, outdoor pools, banquet halls, wedding lawns, open-air restaurants, bars, fitness clubs, and recreational activities.
Emerald Leisures informed that a meeting of the Board of Directors of the company is scheduled to be held on Monday, July 24, 2023, at 4:00 pm at the registered office of the Company, inter-alia, to consider the company will discuss Right Issue for raising of funds and other business matters with the permission of chairman.
On Tuesday, one of the Top Gainers on BSE, shares of Emerald Leisures jumped 5 per cent upper circuit to Rs 97.91 per share from its previous closing of Rs 93.25. The stock also traded at a net 52-week high of Rs 97.91 per share. In the recent trading sessions, the stock is hitting back-to-back 52-week highs.
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According to the financials, the company has a market cap of Rs 50 core with a 3-year stock price CAGR of 31 per cent. As of March 2023, the shareholding pattern of the company indicates that the majority stake of 69.07 per cent is held by the company's promoters, while the remaining ownership is divided among DIIs (0.17 per cent) and the general public (30.76 per cent).
The stock is up 52 per cent in just 2 years and gave multibagger returns of over 125 per cent in 3 years. Investors should keep an eye on this micro-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.