Multibagger stock rallies 2165% in 3 yrs, record date fixed for 1:3 bonus shares

Small-cap firm Sarthak Industries Ltd operates in the commercial services industry and has a market valuation of ₹125.37 Cr. The company operates a factory in the industrial area of Pithampur, District of Dhar, (M.P.) where LPG cylinders are made and are provided to both private businesses and oil firms including Indian Oil Corporation Ltd., Hindustan Petroleum Corporation Ltd., and Bharat Petroleum Corporation Ltd.

The company has said in a stock exchange filing that “We are pleased to inform you that pursuant to the provision of Regulation 42 of SEBI (LODR) Regulations, 2015 it is hereby informed that the Board of Directors has fixed Friday, 16th December, 2022 as the Record Date for the purpose of ascertaining the eligibility of shareholders for issuance of Bonus shares in the ratio of 1 (One) new equity bonus share of Rs. 10/- each for every 3 (Three) existing fully paid equity shares of Rs. 10/- each held by its shareholders, subject to the approval of shareholders in the ensuring Extra-ordinary General Meeting (EGM) to be held on Saturday, 10thDay of December, 2022.”

For the ascertainment of the eligibility for issuance of Issue of Bonus Equity Shares in the proportion of 1 fully paid-up Equity Shares of Rs. 10/- each for every 3 fully paid-up Equity Share of Rs. 10/- each held by the Shareholders of the Company, the record date has been fixed by the company’s Board of Directors.

The shares of Sarthak Industries Ltd closed today at ₹179.90 apiece, down by 2.10% from the previous close of ₹183.75. The stock recorded a total volume of 4,866 shares compared to the 20-Day average volume of 15,518 shares. The stock price increased from ₹5.95 on March 1, 2018, to the current market price during the past five years, resulting in a multibagger return of 2,923.53%. The stock price surged from ₹7.94 on December 23, 2019, to the current market price during the past three years, resulting in a multibagger return of 2,165.74%. The stock has appreciated 72.65% over the past year, and it has gained 65.50% YTD in 2022. The stock had touched a 52-week-high of ₹216.05 on (14/11/2022) and a 52-week-low of ₹46.10 on (10/08/2022).