Shares of this multibagger micro-cap stock put an end to the trading session on Wednesday on a flatter note. The company recently partnered with a company based in Germany to install a revolutionary product for combating Air Pollution in India.
With a market capitalization of Rs 411.66 crores, the stocks of OK Play India Limited hit the 5 percent upper circuit during the initial trading minutes but closed on a flatter note at Rs 155.50 apiece. The scrip also hit its fresh 52-week high today at Rs 164.30.
The company, through a recent filing with the exchange, provided a couple of updates, the first one being a partnership for combating air pollution in the country, and, the other one being an intimation to meet for raising funds via preferential issue.
The micro-cap company has partnered with MANN+HUMMEL Filter Private Limited (MHIN), a subsidiary company of the MANN+HUMMEL Group based in Germany, to act as the sole distributor of a revolutionary product, viz, “PureAir Mobile Fine Dust Particle Filter Roof Box”.
The product is designed to combat air pollution in India and would be mounted on vehicles as well as on stationary locations.
Moreover, the company intimated that it has scheduled a meeting on 27th November 2023 to consider and approve the proposal for raising funds via preferential issue. The issue is subject to shareholder approval and other regulatory requirements.
Year-to-date, the company’s stock has delivered multibagger returns of around 216 percent to its stakeholders, i.e., if someone had invested Rs 1 lakh into the company’s stock at the start of this calendar year, it would have converted to Rs 3.16 lakhs.
According to the shareholding pattern data available for the quarter ended September 2023, the company’s Promoters hold a 49.14 percent stake, and the Foreign Institutional Investors (FIIs), recently showing interest, currently hold a considerable stake of 19.64 percent in the company.
Founded in 1988, OK Play India Limited is engaged in the business of manufacturing plastic moulded toys, playground equipment, school furniture, infrastructure & automotive products, and e-vehicles. The company offers toys for all age groups from toddlers to teenagers for both entertainment and educational purposes.
Written by Amit Madnani
