Multibagger in just 1 year; Board announces bonus share and stock split!
The stock is up by 23 per cent in just 6 months.
Hardwyn India Ltd announced that the Board of Directors of the company has approved bonus shares in the ratio 1:3 and a stock split in the ratio 10:1. This means that as of the record date, shareholders of the company will receive 01 equity share of Rs 10 each, which will be sub-divided/stock split into 10 equity shares of the face value of Rs 01 each. After the stock split, shareholders will receive 1 equity share of Rs 1 each for every 3 existing equity shares of Rs 1 each. The company has not yet confirmed the record date, but tentatively by Monday, June 05, 2023, it will be exciting.
Today, shares of Hardwyl India Ltd surged 0.40 per cent to Rs 367.90 per share from its previous closing of Rs 366.45 with an intraday high of Rs 372.35 and an intraday low of Rs 364.10. The stock gave multibagger returns of 140 per cent in just 1 year.
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Hardwyn India Ltd is a manufacturer of architectural hardware and glass fittings, which provides complete solutions to residential and commercial structures.
Hardwyn India has a market valuation of Rs 962.66 crore and a 3-year CAGR of more than 253 per cent, according to the financials. Over Q3FY22, net sales increased by 30 per cent, and net profit increased by 230.30 per cent in Q3FY23. In FY22, net sales increased by 47.37 per cent, while net profit increased by 50 per cent over FY21.
The stock has an ROE of 30 per cent and a ROCE of 29 per cent. Additionally, the stock is up by 23 per cent in just 6 months. Investors should keep an eye on this Small-Cap stock.