Home / Markets / Stock Markets /  Multibagger stock of 2022 recommends dividend and approves right issue

With a market worth of 177 crore, Scandent Imaging Ltd. is a small-cap company that deals in hospitals and other healthcare services. The company is a specialist in offering DENTAL and ENT Imaging solutions along with a wide variety of 3D and 2D scan services to the dental and ENT sector. The Board has approved the right issue along with a recommendation of a dividend.

The company has said in BSE exchange filing that “Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements), Regulations, 2015, this is to inform the exchange that the meeting of the Board of Directors of the Company was held on Wednesday, 29th June, 2022 at the Registered Office of the Company wherein the Board considered and approved increase the Authorised Share Capital of the Company from existing Rs. 33,50,00,000 (Rupees Thirty-Three Crore and Fifty Lakh Only) divided into 3,35,00,000 (Three Crore and Thirty-Five Lakh) Equity Shares of Rs. 10 each to Rs. 75,00,00,000 (Rupees Seventy Five Crore) divided into 7,50,00,000 (Seven Crore Fifty lakhs) Equity shares of Rs. 10/- each and the consequent change in the Capital Clause of the Memorandum of Association, subject to the approval of members."

The company has also informed BSE that its Board has recommended changing the name of the company to “Family Care Hospitals Limited" subject to the approval of Members and Regulatory Authorities. “The Board of Directors have recommended a dividend of Rs. 10 paisa per equity share (1%) of Rs. 10 each for the Financial Year ended March 31, 2022, subject to the approval of the shareholders at the ensuing Annual General Meeting," the company has said in its filing.

“The Board of Directors has considered and approved raising of funds through issuance and allotment of equity shares of Rs. 10 each ("Equity Shares") to the eligible equity shareholders of the Company on Rights basis, on such terms and at such price and ratio as may be decided by a duly constituted committee (Rights Issue Committee) of the Board, for an amount not exceeding Rs. 49 Crore, subject to receipt of regulatory/statutory approvals," the company has said in BSE exchange filing.

The stock reached a 52-week high on the NSE and closed at Rs. 55.40, a gain of 4.92 per cent over its previous closing of Rs. 52.80. On a year-to-date (YTD) basis, the stock has climbed from 21.40 to the present level, generating a multibagger return of 158.88 per cent so far in 2022. In the last year, the stock has gained from 20.60 to the current level, suggesting a multibagger return of 168.93 per cent. The stock has been managed to provide shareholders with a multibagger return of 158.88 per cent over the previous six months and a multibagger return of 135.74 per cent over the previous month.

ABOUT THE AUTHOR

Vipul Das

Vipul Das is a Digital Business Content Producer at Livemint. He previously worked for Goodreturns.in (OneIndia News) and has over 5 years of expertise in the finance and business sector. Stocks, mutual funds, personal finance, tax, and banking are among his specialties, and he is a professional in industry research and business reporting. He received his bachelor's degree from Dr. CV Raman University and also have completed Diploma in Journalism and Mass Communication (DJMC).
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