Latest Stock Market News

Multibagger stock to consider stock split after rallying by 149% YTD

A small-cap company, Akashdeep Metal Industries Ltd. operates in the financial services industry and has a market valuation of Rs. 127.71 Cr. Incorporated in 1983 and licenced as an NBFC with the Reserve Bank of India, the company offers a range of financial services. On Monday, December 12th, 2022, the company’s Board of Directors will meet to consider the proposal of stock split.

The company has said in a stock exchange filing that “Pursuant to Regulation 29 of SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015, we wish to inform you that a meeting of the Board of Directors of the company is scheduled to be held on Monday, December 12th, 2022, inter alia to: 1. consider a proposal for sub-division(split) of the Equity Shares of the company in such manner as may be determined by the Board of Directors and matters thereto; 2. alter the Authorised Share Capital clause of the Memorandum of Association of the Company; 3. consider a proposal for appointment of Mr. Sunil Kumar Malik (DIN: 00143453) as an Additional Non- Executive Non-Independent Director. Further, in accordance with the SEBI (Prohibition of Insider Trading) Regulations, 2015, the trading window for dealing in the securities of the Company will remain closed from 24th November, 2022 till the expiry of 48 hours from the outcome of the Board Meeting.”

In the quarter that ended in September 2022, Akashdeep Metal Industries’ net profit grew 150.00% to 0.85 crore from 0.34 crore in the same period a year earlier. In comparison to the 2.21 Cr reported in Q2FY22, the firm recorded a net income of 5.06 Cr in Q2FY23, reflecting a YoY rise of 128.95%. In Q2FY23, the firm reported an EPS of 0.88 per share, down from 0.94 in Q2FY22.

The shares of Akashdeep Metal Industries Ltd closed today at 125.25 apiece level, down by 0.20% from the previous close of 125.50. In trade today the stock recorded a total volume of 88,360 shares compared to the 20-Day average volume of 10,839 shares. The stock has produced a multibagger return of 226.17% over the past five years and a multibagger return of 314% during the past three years. The stock has produced a multibagger return of 142.03% during the past year, and YTD, it has returned 149.75% so far in 2022.

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint.
Download The Mint News App to get Daily Market Updates.


Read More: Multibagger stock to consider stock split after rallying by 149% YTD

You might also like