Multibagger in just 1 month; Board of this micro-cap company announced stock split!

The stock gave multibagger returns of 195 per cent in just 3 months, up 272 per cent in 1 year and over 500 per cent in 3 years.

Mena Mani Industries Limited announced that the members of the company at their extraordinary general meeting held on July 20, 2023 approved a stock split / sub-division of 1 (One) equity share of the company having a face value of Rs 10 each into 10 (Ten) equity shares of the company having face value of Rs 1 each by altering the capital clause (Clause V) of the memorandum of association of the company as below:

V.) The Authorized Share Capital of the Company is Rs 16,50,00,000 or Rs 16.50 crore, divided into 16,50,00,000 (16.50 crore) equity shares of Rs 1 each.

Mena Mani Industries Ltd is in the business of trading biofuel and also carries out construction and other information technology activities. The firm has a market cap of Rs 41.72 crore with a 5-year CAGR of 24 per cent.

The company reported positive numbers in its Quarterly Results and annual results. The net sales increased by 994 per cent to Rs 3.72 crore and net profit skyrocketed by 1,775 per cent to Rs 0.67 crore in Q4FY23 compared to Q3FY23.

On July 17, 2023, shares of Mena Mani Industries Limited plunged 2 per cent to Rs 41.58 per share (Currently the stock is not trading on the exchange; BSE Scrip Code: 531127). The stock has a 52-week high of Rs 41.58 and a 52-week low of Rs 10.30.

The stock gave multibagger returns of 195 per cent in just 3 months, up 272 per cent in 1 year and over 500 per cent in 3 years. Investors should keep an eye on this micro-cap stock.

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