With a market capitalization of ₹ 1028.50 crores, Rhetan TMT is a small-cap company engaged in the manufacturing of TMT Bars and round bars, which are primarily used in the construction of dams, bridges, residential and commercial towers, and major infrastructure projects in Gujarat.
The company’s board had announced a sub-division/split of its equity shares having a face value of ₹ 10 each into 10 equity shares having a face value of ₹ 1 each, or a 1:10 stock split. In addition to the split, it had announced the issue of 11 bonus shares for every 4 equity shares (11:4) held by the equity shareholders as on the record date.
Earlier, the company had fixed Tuesday 31 January, 2023 as the record date for the purpose of ascertaining the eligibility of its shareholders entitled to the split and bonus. However, it postponed the record date to Friday, 10th March 2023.
Rhetan TMT has given multibagger returns of a whopping 628%, as its share price increased from ₹ 66.50 apiece to ₹ 484.00 apiece as of 01:08 PM on Thursday. Therefore, if an investor would have invested ₹ 1 lakh in the company’s shares six months ago, the value of their holdings would have been ₹ 7.28 lakhs today!
Rhetan TMT is an SME stock listed on the BSE SME platform. This platform is intended for small and medium-sized companies with a high growth potential. It allows the listed companies to raise much-needed growth capital until they grow, mature and transit to the exchange’s main board.
Written by Simran Bafna
Disclaimer
The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
