A participatory rally after the second wave of Covid-19 had helped the Indian stock markets to scale new heights. Once that was out of the way, the Russia-Ukraine War, rising inflation, and interest rate hikes weighed down the markets. A good number of stocks have entered the multibagger category since the onset of the pandemic and the events that followed.
Radhe Developers Limited, a penny stock, quoted at ₹9.33 apiece, a year ago. Today the shares are up by more than 4% and trading at Rs 235 levels, thereby giving a multi-bagger return of 2,238.31% to its shareholders in the past year.
In the last month, the stock is up by 13%. So far this year, the stock is down by more than 23% YTD. The stock reached its 52-week high of Rs 360 in November last year.
If an investor had invested ₹ 1,00,000 in the company’s shares a year ago, the value of their holdings would have been ₹ 25,30,550 today.
The board of the company announced a bonus issue of shares. The ratio for the issue will be 1:1 meaning, for every one share held the shareholder will get an additional share. The record date for the purpose has been set as July 15, 2022, and the stock will trade ex-bonus on July 14, 2022.
The multibagger stock is also set to split its shares. The company has fixed Thursday, July 14th, 2022 as the record date for the purpose of subdivision of the nominal value of equity share of the Company from Rs 10 to Rs 1 per share.
Radhe Developers Limited is a construction and contracting-housing firm based out of Gujarat. It works on residential, commercial, weekend homes & plotted projects. It has a market capitalization of ₹594 crores.
Written By – Anoushka Roy
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