With a market capitalization of ₹ 303 crores, Markolines Pavement Technologies is a small-cap company that is engaged in operations and maintenance. Its operations are mainly divided into highway operations, highway maintenance, and specialised maintenance services.
The company in a stock exchange filing said that its board of directors has considered and approved a rights issue of its shares at ₹ 167 per share (including a premium of ₹ 157 per share). 29,85,550 equity shares will be issued for an aggregate amount of ₹ 4985.87 lakhs.
Tuesday, January 17, 2023, is fixed as the record date for determining the eligibility of shareholders to apply for the issue. The shares will trade ex-rights on the same day. Therefore, if shareholders want to buy these shares, they will have to do so before this date.
The shares of Markolines Pavement Technologies were trading at ₹ 155.00 apiece at 12:58 PM on Monday and 12800 shares changed hands on the Bombay Stock Exchange (BSE).
Its shares were trading at ₹ 75.45 apiece one year ago, indicating that they have given multibagger returns of 105.43% in the past year. Therefore, if an investor would have invested ₹ 1 lakh in the company’s shares one year ago, the value of their holdings would have been ₹ 2.05 lakhs today!
Markolines Pavement Technologies has an ideal return on equity of 21.09% and an ideal debt-to-equity ratio of 0.24. Its shares were trading at a price-to-earnings ratio (P/E) of 18.03, which is higher than the industry P/E of 12.79, indicating that the stock might be overvalued as compared to its peers.
The stock reached a 52-week high and an all-time high of ₹ 207 apiece on November 07, 2022. It reached a 52-week low of ₹59.35 a piece on March 07, 2022, and an all-time low of ₹ 50 on December 30, 2021.
Written by Simran Bafna
