Stock under Rs 50: Watch out for this small-cap stock which was locked in the upper circuit on April 19
The stock is up by 52.66 per cent in 5 trading sessions.
On Wednesday, the domestic benchmark indices ended the day low with BSE Sensex Index down by 0.27 per cent at a level of 59,568 and the NSE Nifty-50 Index down by 0.23 per cent at a level of 17,619.
Though the market was weak, shares of Mirza International Ltd surged and got locked in 20 per cent upper circuit to Rs 49.92 per share, being one of the Top Gainers on BSE. The stock has a 52-week high of Rs 379.50 and a 52-week low of Rs 30.02.
The company informed that on March 29, 2023, the shares went through a spin-off wherein the transfer and vesting of demerged undertaking from Mirza International Limited to Redtape Limited, it is proposed that Redtape Limited shall allot 1 equity share of Rs 2 for every 1 equity share of Rs 2 each held by shareholders of Mirza International Limited as on record date.
Mirza International Ltd has a market cap of Rs 690 crore. The company is a manufacturer and exporter of finished leather, Footwear and trader of footwear and apparel and allied products. Today, shares of the company saw a spurt in volume by more than 4.80 times on BSE.
The company reported positive numbers in its Quarterly Results and annual results. The stock has a PE of 3.65x and an ROE of 18.94 per cent.
The stock is up by 52.66 per cent in just 5 trading sessions. Investors should keep an eye on this Small-Cap stock.