Multibagger in just 6 months: Don't miss action in this stock that has announced bonus shares and stock split!
In just 6 months, the stock gave multibagger returns of 640 per cent.
Rhetan TMT Ltd, SME stock informed the exchanges (BSE & NSE) that the company has declared a bonus issue in the ratio 11:4 and stock split in the ratio 1:10 as of the record date. The company confirmed the record date as Friday, March 10, 2023.
Today, shares of Rhetan TMT surged 1.46 per cent to Rs 494 per share from its previous closing of Rs 486.80 per share. In just 6 months, the stock gave multibagger returns of 640 per cent. The stock also traded at a 52-week high of Rs 500.
Rhetan TMT Limited manufactures TMT Bars and Round Bars which are primarily used in the construction industry and its products have been used in the construction of dams, bridges, residential and commercial towers and major infrastructure projects in Gujarat.
According to the financials, Rhetan TMT has a market cap of Rs 1,049.75 crore. The company reported positive numbers in both half-yearly results and annual results. In H1FY23, net sales and net profit rose by 5 per cent and 59.23 per cent respectively compared to H1FY22. In FY22, net sales and net profit rose by 28.68 per cent and 1,707.69 per cent respectively, compared to FY21.
Investors should keep an eye on this stock.