With a market capitalization of ₹ 70 crores, Achyut Healthcare Ltd is a penny stock listed on the Bombay Stock Exchange (BSE). The company operates as an SME in the pharmaceutical industry. It trades in API, pharmaceutical products, and medical equipment.
Its shares have been on an uptrend and have hit the upper circuit for seven sessions in a row, gaining almost 35% during this time. In fact, they gained 57.01% in the past month. Its shares are currently locked 4.99% higher in an upper circuit, at ₹ 81.58 apiece.
The company’s share price has risen from ₹ 19.50 to ₹ 81.58 apiece in the past six months to give multibagger returns of 318 percent. Therefore, if an investor had invested ₹ 1 lakh in the company’s shares six months ago, the value of their holdings would have been ₹ 4.18 lakhs today!
According to an exchange filing, it has considered and recommended an issue of bonus shares in the ratio of 1:2, i.e., it will be issuing one new bonus share for every two shares that a shareholder has. The board has fixed April 25, 2023, as the record date for the purpose of issue of these shares to eligible shareholders.
Achyut Healthcare is a penny stock and its shares are subject to high volatility. Penny stocks are highly-risky investments and investors should be cautious before investing in them. Moreover, penny stocks have low liquidity and low volumes, thus an investor may not always be able to sell the shares at the right time.
Written by Simran Bafna
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