The stocks of this small-cap brewery stock jumped nearly 5 percent and touched its 52-week high levels today. The scrip has been able to deliver multibagger returns of over 300 percent in the past one year.
Shares of Som Distilleries & Breweries Limited started their trading session at Rs 294 and are currently trading at Rs 307, gaining 5 percent compared to the previous closing levels of Rs 292.20. The company has a market capitalization of Rs 2,400 crores.
The surge in stock prices is observed after the company, via a filing with the Bombay Stock Exchange (BSE), informed that its Board has decided to meet on the 8th of July 2023. The company is expected to likely discuss the fundraising plans on a preferential basis by way of issuing convertible equity warrants to the Promoters and/or potential investors.
The funds raised through this source will be allocated for the company’s capex as well as working capital needs.
Keeping a purview of six months, the stock has delivered multibagger returns of 168 percent. It means that if someone would have invested Rs 1 Lakh into the stock, it would have converted to Rs 2.68 Lakhs within a period of six months.
Ace Investor Ms. Dolly Khanna has invested in the company’s stock and, according to the shareholding data available with the BSE, she holds 9,91,429 shares which equate to a 1.28 percent stake. Currently, the holding value of her investment stands at Rs 30.4 crores.
The company’s consolidated financials for FY22-23 have shown tremendous growth in numbers with the operating revenues moving from Rs 362 crores during FY21-22 to Rs 1,498 crores in FY22-23, and, the after-tax profits transitioned from losses of Rs 9 crores in FY21-22 to profits of Rs 60 crores in FY22-23.
Som Distilleries & Breweries Limited is a company based in India that is engaged in the business of manufacturing as well as selling beer & Indian-made foreign liquor (IMFL). The array of its products includes items like brandy, vodka, whisky, etc.
Written by Amit Madnani
Disclaimer
The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
