This multibagger stock hits upper circuit before turning ex-bonus tomorrow
PremiumSindhu Trade Links' stock has risen from ₹5.78 to ₹113 in the last year, representing a multibagger return of 1,846.37 percent.
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Sindhu Trade Links Ltd is a small-cap company with a market capitalization of ₹5,820 crore that specialises in the finance sector. After opening at a market price of ₹110, the BSE-listed stock hit its upper circuit of ₹113.25 (5 per cent) at 9.50 p.m. today. Sindhu Trade Links' stock has risen from ₹5.78 to ₹113 in the last year, representing a multibagger return of 1,846.37 per cent. The Board of Directors announced bonus shares in the ratio of 2:1 at the general meeting held on May 11, 2022.
The record date for bonus shares has been set for May 20, 2022, and the stock will turn ex-bonus tomorrow, May 19, 2022. “On the captioned subject and in pursuance to approval of shareholders received vide Extra-Ordinary General Meeting dated 11th May, 2022, we request you to note that the Board of Directors have fixed Friday, 20th May, 2022 (subject to receipt of in-principal approval of the Exchange) as the Record Date for the purpose of issue of Bonus Share in the ratio of 2:1 i.e, 2 new Equity Bonus Share of Rs. 1/- each for every 1 (One) existing Equity Share of the Rs. 1/ each held," the company has said in an exchange filing.
Sindhu Trade shares have been under-selling pressure for the past month, shedding roughly 12.79 per cent, although the stock has risen 90.65 per cent in the last six months, compared to a 9.03 per cent drop in the benchmark BSE Sensex. Year-to-date (YTD), the stock has risen from ₹72.84 to ₹112.95, representing a 54.45% increase in 2022.
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On the BSE the stock has touched a 52-week high of ₹166.20 on 22/02/2022 and a 52-week low of ₹5.78 on 20/05/2021 which means that the stock is trading 31% below its 52-week-high. At the current market price, the stock is trading higher than the 5 days, 10 days, 12 days, 20 days, 26 days, 100 days, and 200 days moving averages, but lower than the 50-day moving averages.
