The stock gave a multibagger return of 120 percent in just 6 months, 390 percent in 1 year and 1,775 percent in 3 years.
Indian benchmark indices ended the day with BSE Sensex index up 0.55 per cent and NSE Nifty-50 index up 0.55 per cent.
With the market in the green, it multibagger The robotics manufacturing stock was closing in the upper circuit of 5 per cent at Rs 684.45 per share. The stock’s 52-week high is Rs 864 and its 52-week low is Rs 155.30.
Before we reveal the name of the stock, let’s take a look at how well-known investor Vijay Kedia made Rs 44,78,880 in just 1 day after rights issue update. here are the details:
On January 29, 2021, Vijay Kedia, a prominent investor, acquired 1,37,600 shares of a manufacturing company at a price of Rs 76.98 per share. The company falls under the SME segment with a lot size of 1,600 shares, resulting in a total investment of Rs 1,05,92,448. As of Friday’s close, the stock is trading at Rs 684.45 per share, up 32.55 points or 5 per cent.
Therefore, 1,37,600 shares x Rs 32.55 per share = Rs 44,78,880 in just 1 day.
rights issue: The company informed that the Board of Directors on Friday, October 06, 2023 has approved raising funds by way of issue of equity shares of face value of Rs 10 of the company on rights basis (rights issue) to its eligible equity shareholders on Friday, October 06, 2023. Issuance of equity shares of face value Rs 10 each on rights basis (rights issue) worth more than Rs 50 crore to each eligible equity shareholders of the company. The company will soon announce the details of the rights issue including ratio, opening and closing date, record date etc.
Financial position of the company:
The market cap of the company is more than Rs 697 crore. According to quarterly resultsNet sales increased by 89 per cent to Rs 96 crore and net profit increased by 450 per cent to Rs 11 crore in Q1FY24 compared to Q1FY23. The company recorded positive numbers in its annual results (FY23).
The multibagger stock you are interested in Affordable Robotics and Automation Limited
The stock gave multibagger returns of 120 percent in just 6 months, 390 percent in 1 year and a whopping 1,775 percent in 3 years. Investors should keep an eye on this stock.
Disclaimer: This article is for informational purposes only and not investment advice.
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