Multibagger stock below Rs 50: Don’t miss action is this micro-cap stock that has announced rights issue!

The net profit skyrocketed by 1,243 per cent in FY22 over FY21.

Enbee Trade & Finance informed that The Board of Directors has approved the rights issue in the ratio 20:1. The company fixed the record date for the rights issue as Wednesday, May 10, 2023 with an Issue size of 3.2 crore Equity Shares of the face value of Rs 10 each, for an aggregate amount not exceeding Rs 48 crore. 

The rights issue price of shares is Rs 15 (Including a premium of Rs 5) per Equity Share with the issue opening date as Thursday, May 18, 2023 and the closing date as Thursday, June 1, 2023.  

After rising nearly 435 per cent over the period of 8 years, shares of Enbee Trade & Finance Ltd are undergoing a correction and have hit the lower circuit for the 5^th straight day. Today, shares of Enbee Trade & Finance Ltd plunged 5 per cent to Rs 32.91 per share from its previous closing of Rs 34.64. The 52-week high of the stock is Rs 118.65 and the 52-week low of Rs 26.63. 

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Enbee Trade & Finance Ltd, incorporated in the year 1985, has a market cap of Rs 5.27 crore in the business of financing and investment. 

The company reported positive numbers in its Quarterly Results and annual results. The net sales rose 87 per cent and net profit skyrocketed 1,243 per cent in FY22 over FY21. The stock has a PE of 2.64x whereas the sectoral PE is 24x.  

Investors should keep an eye on this micro-cap multibagger stock.