Back-to-Back 52-Week Highs Alert: Multibagger Real Estate Stock; Board Likely to Announce Bonus Shares & Dividend
The stock gave multibagger returns of 255 per cent in just 1 year, 600 per cent in 2 years and a whopping 7,000 per cent in 5 years.
On Tuesday, shares of Meghna Infracon Infrastructure Limited (Formerly known as Naysaa Securities Limited), jumped 7.1 per cent and made a new 52-week high of Rs 1,000 per share from its previous closing of Rs 933.75 per share. In recent trading sessions, the stock has been hitting back-to-back 52-week highs and is currently trading above the 50-DMA & 200-DMA.
Meghna Infracon Infrastructure Limited informed that the Board of Directors of the Company will be held on May 21, 2025, to transact the following business inter alia:
- Consider and approval of audited standalone and consolidated financial results of the company for the quarter and year ended March 31, 2025, along with the Audit Report of the Statutory Auditors for the corresponding period.
- To consider the proposal for the issuance of fully paid bonus equity shares to the existing equity shareholders of the company.
- To consider and declare a dividend for FY 2024-25.
- To consider and approve of notice of the Extra-Ordinary General Meeting.
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About Meghna Infracon Infrastructure Limited
Meghna Infracon Infrastructure Limited (Script Code-538668) is an emerging name in real estate development across the residential sector in the Western Mumbai region. The company has residential projects located in the premium locations of Goregaon and Andheri, where they have established their presence. The company is primed for ongoing success and expansion within the real estate sector.
The company has a market cap of over Rs 1,000 crore and working capital requirements have reduced from 229 days to 91.7 days. The shares of the company have an ROE of 27 per cent and an ROCE of 21 per cent. The stock gave multibagger returns of 255 per cent in just 1 year, 600 per cent in 2 years and a whopping 7,000 per cent in 5 years.
Disclaimer: The article is for informational purposes only and not investment advice.