Multibagger penny stock to consider bonus shares, stock split after 140% rally in YTD

  • Multibagger penny stock: AA Plus Tradelink, which has surged 140% year-to-date, is expected to announce a stock split and bonus share approval.

Shivangini
Updated12 Oct 2024, 10:23 AM IST
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Multibagger penny stock to consider bonus shares, stock split after 140% rally in YTD
Multibagger penny stock to consider bonus shares, stock split after 140% rally in YTD(Pixabay)

Multibagger penny stock: AA Plus Tradelink has announced two potential shareholder-friendly moves, including a stock split and a bonus share issue, on October 10. AA Plus Tradelink share price has rallied around 140 per cent on a year-to-date (YTD) basis, as per BSE Analytics.

Meanwhile, AA Plus Tradelink were locked at a 5 per cent lower circuit on Thursday, October 10, closing at 20.63.

According to a regulatory filing, the Board of Directors will review these corporate actions, which could impact the stock's accessibility and liquidity.

AA Plus Tradelink share price history

AA Plus Tradelink stock has gained over 139 per cent, from the levels of 8.19 closing at 19.60 on October 11, Friday, as per BSE.

The stock has surged around 114 per cent during a period of one year and delivered multibagger returns in 2024, skyrocketing over 140 per cent year-to-date. Despite Thursday’s drop, the shares remain 27 per cent below their all-time high of 26.88, reached in July 2024. The stock has gained more than 180 per cent from its 52-week low of 7.01, recorded in February 2024.

Also Read | Multibagger Bondada Engineering shares gain after ₹1,132 crore order win

The stock split is aimed at lowering the share price, making it more affordable for retail investors. It’s expected to improve liquidity by increasing the number of shares available for trading, which could reduce price volatility and ease market transactions, as per the filing.

The company emphasized that the announcement complies with SEBI regulations, including those concerning stock splits and bonus issues. It also adheres to BSE disclosure guidelines, ensuring timely and accurate information for investors.

Also Read | Sudarshan Chemical shares surge 20%, hit 52-week high today. Here’s why

Shareholder participation

The upcoming corporate actions will be discussed at an Extraordinary General Meeting (EGM) or through a postal ballot. Shareholders will have the opportunity to vote on the proposed changes. Additional details on the meeting and voting procedures will be shared soon.

Also Read | The next Tata: Noel takes the reins of Tata Trusts

Founded in 2016, AA Plus Tradelink specializes in wholesale trade services, including the supply of iron, steel, aluminium, and alloy products. The company also offers installation services for aluminium windows and glass fittings. With a strong financial record, AA Plus Tradelink continues to pursue growth and value creation for its stakeholders.

Disclaimer: The views and recommendations provided in this analysis are those of individual analysts or broking companies, not Mint. We strongly advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and individual circumstances may vary.

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First Published:12 Oct 2024, 10:23 AM IST
Business NewsMarketsStock MarketsMultibagger penny stock to consider bonus shares, stock split after 140% rally in YTD

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