Shares of this microcap paper company gained 4.65 percent after the company approved to raise up to 50 crores from right issue.
At 10.35 16th october shares of Magnum Ventures Ltd were trading at Rs. 42.70 per share up by 4.65 percent from previous closing price of Rs. 40.80 per share.
Such bullish stock price movement was observed after the company announced through a regulatory filing on Bombay stock exchange (BSE) on 13th october that they have approved raising of funds on a right basis (right issues) for a value not exceeding Rs. 50 crores.
Looking at the financials, company’s revenue decreased by 3.16 percent to Rs. 112.31 crores in Q1FY24 from Rs. 115.98 crores in Q1FY23, in the same time period net profit decreased by 92.26 percent to Rs. 3.45 crores from Rs. 44.59 crores.
Talking about the financial ratios, the company reported return on capital employed (ROCE) of 34.55 percent and return on assets (ROA) of 10.44 percent in the last financial year.
Promoters of the company hold 63.23 percent stakes and the public holds 36.65 percent stakes in the company.
Magnum currently operates in the Paper Industry and Hotel Industry. The Company has been manufacturing papers for 30+ Years. Company is one of the largest paper (newsprint, duplex board, etc.) printing co in the Northern region.
Written by: Vinit Israni
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