Multibagger stock is 354% above 52-week-low, Board declares 1:1 bonus shares

The Board of the firm has authorised the issuance of up to 13,72,000 fully paid-up equity shares worth Rs. 10 apiece as bonus equity shares, with a maximum total nominal value of Rs. 1,37,20,000/-, to the shareholders out of the reserves of the company.

Evans Electric has said in a stock exchange filing that “The bonus issue of equity shares will be made in the ratio of 1:1 [i.e. 1 (One) fully paid up equity share for every 1 (One) equity share held by the shareholders on such date (Record Date) as may be determined by the Board of Director(s).”

On Friday the shares of Evans Electric Ltd closed on the BSE at ₹318.00 apiece level, down by 2.97% from the previous close of ₹327.75. The stock reported a total volume of 8,500 shares. On the BSE, the company got listed on 13-05-2019 at a price of ₹52 from which the stock has climbed to the current market price logging in at an all-time high level of 509%. 

In the last 3 years, it has rallied 86% and in the last 1 year the stock price has risen from ₹118 as of 31st January 2022 to the current market price logging in a multibagger return of 169.49%. The stock has dropped 8.54% YTD so far in 2023, while over the past six months, it has climbed from ₹80 on August 1, 2022, to the current market price, representing a multibagger return of 297.50%. 

The stock has plummeted 7.53% during the past five trading sessions and 8.78% over the past month. The stock touched a 52-week-high of ₹411.65 on (16/12/2022) and a 52-week-low of ₹70.00 on (11/08/2022), indicating that at the current market price, the stock is trading 22.74% below the 1-year high and 354.28% above the 1 year low. For the quarter ended September 2022 or Q2FY23, the company posted a promoter shareholding of 59.44% and a public stake of 40.56%.