After gaining 140% YTD, this small cap stock declares 6:1 rights issue

The company has said in a stock exchange filing that “Pursuant to Regulation 42 of the SEBI (Listing Obligations and Disclosure Requirements), 2015, the Company has fixed Tuesday, 3rd January, 2023 as the Record Date, for the purpose of ascertaining the eligibility of shareholders entitled for issuance of 6 (Six) Fully paid-up Equity Share of the Company having face value of Rs. 10/- (Rupees Ten Only) each for every 1 (One) Equity Share held by the eligible existing equity shareholder in the Company on Rights basis (Rights Issue).”

The shares of Vaxfab Enterprises Ltd closed today at ₹35.60 apiece, up by 3.49% from the previous close of ₹34.40. The stock recorded a total volume of 2,008 shares compared to the 20-Day average volume of 3,100 shares. In the last 1 year, the stock has generated a multibagger return of 171.43% and on a YTD basis, it has generated a multibagger return of 140.67% so far in 2022. 

The stock has appreciated 56.96% over the past six months and 24.27% over the past month. The stock had touched a 52-week-high of ₹44.40 on (12/10/2022) and a 52-week-low of ₹12.35 on (27/12/2021), indicating that at the current market price the stock is trading 19.81% below the 1-year high and 188.25% above the 1 year low. For the quarter ended September 2022 or Q2FY23, the company posted a promoter shareholding of 0.78% and a public shareholding of 99.22%. At today’s closing price the stock was seen trading above 5 days, 20 days, 50 days, 100 days and 200 days SMA but below the 10 days Simple Moving Average (SMA).