Multibagger stock up over 220% in 6 months, 2:3 bonus share declared

Petrochemical stock surges

Sprayking Agro Equipment is a small-cap firm that operates in the capital goods sector with a market value of 64.79 Cr. The business is a rising star when it comes to producing custom brass parts like fittings, forging tools, transformer parts, and other brass parts.

“The Board of Directors of the Company has, among other things, discussed and approved the following at its meeting on March 16, 2023: 2. Approved the Migration of the Company from the SME platform of PARAGRAPH; 1. Authorized the Issuance of Bonus Shares in the Ratio of 2:3, i.e. 2 new fully paid Equity Shares for every 3 existing fully paid Equity Shares held by the shareholders;

According to Chapter IX of the SEBI (ICDR) Regulations, 2018, BSE to Main Board of BSE Limited and on the Main Board of NSE Limited, subject to approval by the Company’s shareholders, BSE Limited, National Stock Exchange of India Limited, or such other authorities, Sprayking Agro Equipment said in a stock exchange filing.

The company said the pre bonus issue paid up capital is Rs. 6,34,07,690/- consisting of 63,40,769 Equity Shares of Rs. 10 each and post bonus issue paid up capital shall be upto Rs. 10,56,79,483 consisting of existing 63,40,769 equity shares plus bonus shares upto 42,27,179 equity shares of Rs. 10 each and the estimated date by which such bonus shares would be credited/dispatched: 04th May, 2023.

The share price of Sprayking Agro Equipment last closed on Thursday at 102.18 per share, a new 52-week high. This represents an increase of 4.99% from the previous finish of 97.32. The stock registered a deliverable volume of 100% and a total volume average of 12,000 shares. The stock has produced multibagger returns of 325.75% over the past five years and 671.71% over the past three years. The stock has produced a multibagger return of 262.98% over the past year, and it has produced a multibagger return of 144.45% over the course of 2023.

It has produced a multibagger return over the past six months of 228.55%, and over the past month, it has increased by 61.29%. On July 18, 2022, the stock reached a 52-week low of $20.10, and in the fourth quarter of FY23, Sprayking Agro Equipment Ltd reported promoter shareholdings of 36.41% and public stakes of 63.59%.