Multibagger stock gains 1900% in 3 years, record date fixed for 1:3 bonus shares

The company has said in a stock exchange filing that “we are pleased to inform that Meeting of the Board of Directors of the Company is scheduled to be held on Thursday, 22nd December, 2022 to consider and approve the allotment of 23,22,950 Bonus Equity Shares of Rs. 10/- each amounting Rs. 2,32,29,500/- to existing shareholders in the proportion of 1 (One) new fully paid-up Equity Share of Face Value of Rs. 10/- (Rupee Ten) each for every 3 (Three) existing fully paid-up Equity Share of Face Value of Rs. 10/- (Rupee Ten) each held by them as on record date i.e. Tuesday, 20th December, 2022. You are requested to please take on record the said information for your reference and oblige.”

The shares of Sarthak Industries Ltd closed today at ₹163.25 apiece, down by 3.89% from the previous close of ₹169.85 on the BSE. The stock recorded a total volume of 22,850 shares compared to the 20-Day average volume of 19,836 shares. The stock price climbed from ₹5.95 on March 1, 2018, to the market price today, representing a multibagger return of 2,683.19% over the last five years. The stock price soared from ₹7.94 on December 23, 2019, to the current market price during the past three years, resulting in a multibagger return of 1,985.64%. 

The stock has appreciated by 65% over the past year, and on a year-to-date basis, it has gained by 52.35% so far in 2022. The stock has posted a multibagger return of 193.10% during the past six months, but a 16.22% decline over the past month. The stock had touched a 52-week-high of ₹216.05 on (14/11/2022) and a 52-week-low of ₹46.10 on (10/08/2022), indicating that at the current market price the stock is trading 24.43% below the 1 year high and 254.12% above the 1 year low. For the quarter ended September 2022 or Q2FY23, the company recorded a promoter shareholding of 36.27% and a public stake of 63.73%.