6,500 per cent returns & FIIs increase stake; Board announces stock split – Record date inside!

The stock gave multibagger returns of 320 per cent in 3 years and a whopping 6,500 per cent in a decade.

Bhagiradha Chemicals & Industries Ltd (BSE Code: 531719 and NSE Symbol: BHAGCHEM) a leading player in the speciality chemical & renewable energy segment, announced that the Board of Directors of the company has approved a stock split of equity shares for the first time ever i.e., sub-division/ split of existing equity shares of the company, such that 1 equity share having face value of Rs 10 each fully paid-up, be sub-divided/split into 10 equity shares having face value of Rs 1 each, fully paid-up, ranking pari- passu in all respects. The company fixed the record date as Thursday, May 02, 2024.  

Bhagiradha Chemicals & Industries, an Indian agrochemical company founded in 1993, manufactures insecticides, fungicides, herbicides and other speciality chemicals. With a manufacturing plant in Ongole, Andhra Pradesh, they offer a variety of products and are expanding their operations with a new facility in Karnataka and aiming to register new products and grow their international presence. The company has a market cap of over Rs 1,800 crore and has delivered good profit growth of 46.1 per cent CAGR over the last 5 years. Additionally, the company reported positive numbers in its Quarterly Results and annual results.

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Today, shares of Bhagiradha Chemicals & Industries Ltd plunged 4.38 per cent to Rs 1,740.75 per share with an intraday high of Rs 1,856.95 and an intraday low of Rs 1,732.70. As of shareholding of December 2023, FIIs have increased their stake to 0.17 per cent compared to 0.10 per cent in September 2023. The stock gave multibagger returns of 320 per cent in 3 years and a whopping 6,500 per cent in a decade. Investors should keep an eye on this micro-cap stock.

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