250 per cent returns: Don’t miss action in this stock that has announced rights issue!
In Q3FY23, net sales skyrocketed by 7,200 per cent and net profit skyrocketed by 3,450 per cent over Q3FY22.
Today, one of the Top Gainers on BSE, shares of KCD Industries India Ltd surged 5 per cent upper circuit to Rs 25.90 per share from its previous closing of Rs 24.67. The stock gave multibagger returns of 250 per cent from its 52-week low of Rs 7.38 per share whereas BSE Small-Cap Index was only up by 0.02 per cent.
Recently, KCD Industries announced a rights issue in the ratio of 19:7 for the equity shareholders aggregating to a total of 2.72 crore shares. The rights issue price is Rs 18 per equity share (including a premium of Rs 17 per equity share) with the issue opening date as May 31, 2023 and the closing date as June 14, 2023.
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KCD Industries India Ltd., incorporated in the year 1985, is a small-cap company (having a market cap of Rs 25.90 crore) engaged in the business of construction. The company has also received multiple orders from the Government of India projects.
The company reported excellent results in both quarterly and annual financial statements. In Q3FY23, net sales skyrocketed by 7,200 per cent and net profit skyrocketed by 3,450 per cent over Q3FY22.
The stock has a 52-week high of Rs 29.60 and a 52-week low of Rs 7.38. Investors should keep a close eye on this multibagger stock.