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Stock below ₹50 declares 1:2 bonus issue, scrip up 175% in 6 months

 

Achyut Healthcare Limited, a Small-cap company functioning as a SME in the pharmaceutical sector, has a market worth of 46.25 Crore. The business specializes on trading APIs, pharmaceuticals, and medical equipment while providing healthcare services. The corporation has declared a 1:2 bonus issue even though the stock has experienced double gains.

“The Board has evaluated and proposed issuing 46,72,500 (Forty Lakh Seventy Two Thousand Five Hundred) Equity Shares as Bonus Issue in the ratio of 1:2, i.e., issuing two new Bonus Equity Shares worth Rs. 10 each for every existing fully paid-up Equity Share worth Rs. According to a stock exchange filing by Achyut Healthcare, the board has set the record date, or April 25, 2023, for the distribution of bonus shares to the company’s qualified shareholders.

For every two fully paid-up Equity Shares of Rs. 10 each held on the record date, Tuesday, April 25, 2023, there will be one Bonus Equity Share of Rs. 10 each. After being allotted, the Bonus Shares will rank paripasu in accordance with Achyuta Healthcare, have rights equivalent to those of the Existing Equity Shares, and be eligible to fully participate in any dividends and other corporate actions that may be made. will be suggested and declared later.

According to the corporation, net income was Rs. as opposed to 4.19 Cr in FY22 and 0.27 Cr in FY21, and net expenses were Rs. as opposed to 4.09 Cr in FY22 and 0.26 Cr in FY21. According to Achyut Healthcare, its net profit was as opposed to $0.04 million in FY22 and $0.01 million in FY21, and its EPS was as opposed to $0.15 in FY22 and $0.30 in FY21.

The closing price of Achyut Healthcare’s shares on Friday was 49.49 per share, at the upper circuit limit of 5%. 6,000 shares were traded overall on average for the stock. In the past five years, it has provided multibagger returns of 143.19%, and in the most recent year, multibagger returns of 134.00%. It has produced a multibagger return with a YTD gain of 87.82% in 2023 and a six-month gain of 174.94%. The past month saw a gain of 40.80%, and the previous five trading sessions saw a gain of 20.71%. The stock reached a 52-week high of 49.49 on March 17, 2023, and a 52-week low of 15.00 on September 21, 2022.

Also Read: Big Wall Street Funds Cling Onto Emerging Markets in Bank Crisis

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