Multibagger Penny Stock Under Rs 15 Hit Upper Circuit & 52-Week High As Board Is Likely To Announce Stock Split & Rights Issue

The stock is up by 63 per cent from its 52-week low of Rs 6.24 per share and gave multibagger returns of 655 per cent in 5 years.

Minolta Finance Limited has scheduled a Board Meeting on December 4, 2024, to discuss several key proposals: (1) a stock split to reduce the face value of shares from Rs 10 to Re 1; (2) an increase in borrowing limits to Rs 1,000 crore; (3) an enhancement of inter-corporate limits to Rs 1,000 crore; (4) an increase in authorized share capital; and (5) a recommendation for a rights issue of up to Rs 50 crore. These proposals, if approved, could significantly impact the company's financial position and future growth prospects.

Minolta Finance Limited, established in 1993, is a Non-Banking Financial Company registered with the Reserve Bank of India. Listed on the Bombay, Kolkata, and Guwahati Stock Exchanges, the company primarily engages in inter-corporate deposits, share trading, leasing, lending to corporate and individual clients, investing in the capital market, and other financial activities.

On Thursday, shares of Minolta Finance Limited hit a 5 per cent upper circuit to Rs 10.16 per share from its previous closing of Rs 9.68 per share. The stock also made a new 52-week high of Rs 6.24 per share while its 52-week low is Rs 6.24 per share. The shares of the company saw a spurt in volume by more than 8.85 times on BSE.

The company have a market cap of Rs 10.16 crore. The stock is up by 63 per cent from its 52-week low of Rs 6.24 per share and gave multibagger returns of 655 per cent in 5 years. Investors should keep an eye on this penny stock.

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