Multibagger penny stock below Rs 5 with 1,000 per cent returns: Board announces bonus shares!

Multibagger penny stock below Rs 5 with 1,000 per cent returns: Board announces bonus shares!

Kiran Shroff

The stock gave multibagger returns of 275 per cent in 2 years, 340 per cent in 3 years and a whopping 1,000 per cent in 5 years.

IFL Enterprises Ltd informed that the meeting of the Board of Directors has approved bonus shares. Here are the details:

Bonus Shares Issuance: The board approved the purpose of issuance of bonus shares to the fully paid equity shareholders of the Company in the proportion of 01:10 i.e., 1 new fully paid equity share for every 10 existing equity shares held on such date as may be fixed by the board for this purpose (Record Date) and the new bonus share issued. The company fixed the record date as Monday, December 18, 2023.

dividend: Earlier, the board paid interim dividends of Rs 0.0001 for a face value of Rs 1 each for the Financial Year 2023-2024. The ex-record date for the dividend was November 11, 2023.

After rising nearly 300 per cent over the period of 2 years, shares of IFL Enterprises Ltd are undergoing a correction and have hit the lower circuit for the tenth straight day. Today, shares of IFL Enterprises Ltd plunged 5 per cent to Rs 3.59 per share from its previous closing of Rs 3.77. The 52-week high of the stock is Rs 16.9 and the 52-week low of Rs 3.59. In the recent trading sessions, the stock has been hitting back-to-back lower circuits and 52-week lows.

IFL Enterprises Company is involved in the business of trading in goods e.g., fabric and related products as well as shares and securities within permissible limits prescribed by regulators such as RBI or SEBI.

Talking about the financials, IFL Enterprises has a market cap of Rs 81.64 crore. The company reported amazing numbers in its Quarterly Results (Q4) and annual results (FY23). The net profit recorded was Rs 0.51 crore in FY23 compared to a net loss of Rs 0.21 crore in FY22. The stock gave multibagger returns of 275 per cent in 2 years, 340 per cent in 3 years and a whopping 1,000 per cent in 5 years.

Disclaimer: The article is for informational purposes only and not investment advice. 

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