Multibagger stock rallies 3,098% in 5 years, Board approves stock split
- A small cap business with a market valuation of Rs. 500.21 Cr., Confidence Futuristic Energetech Ltd. operates in the commercial services industry
A small-cap business with a market valuation of Rs. 500.21 Cr., Confidence Futuristic Energetech Ltd. operates in the commercial services industry. One of the multibagger stocks that have provided its shareholders with outstanding short- and long-term returns is Confidence Futuristic Energetech. But the cherry on top is that the company's board of directors has declared a stock split of every 1 equity share of face value of Rs. 10/- each into 2 equity shares of Re. 5/- each and the record date for the purpose of the same has also been announced in the Board meeting held today.
The Board of Directors of the company has fixed Thursday, 03rd November, 2022 as the record and stated the purpose in a stock exchange filing “To determine eligibility of members for the purpose of Subdivision/Stock Split of every 1 (One) equity share of face value of Rs. 10/- each into 2 (Two) equity shares of Re. 5/- each.”
On Friday, the shares of Confidence Futuristic Energetech Ltd touched 4.99% upper circuit and closed at ₹399.85 apiece level. In contrast to the 20-Day average volume of 18,594 shares, the stock's last trading session had a total volume of 367 shares. The stock value has risen from ₹12.50 on June 25, 2018, to the current market price during the past five years, representing a multibagger return of 3,098.80%. The stock price climbed from ₹47.10 on October 26, 2021, to the present market price during the course of the previous year, accounting for a multibagger return of 748.94%.
The stock price has gone up from ₹72.90 as of February 16 to the current market price on a year-to-date basis, representing a multibagger return of 448.49% so far in 2022. The stock price jumped from ₹124.30 on April 20 to the current market price during the past six months, representing a multibagger return of 221.68%. The stock has appreciated 79.39% over the past month and 21.52% over the past five trading sessions. The company reported a total promoter shareholding of 61.87% for the quarter that ended in June 2022 and a total public shareholding of 38.13%.
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