1520% Return In 5 Yrs: Small Cap Stock Sets Record Date For 1:1 Bonus Shares, Scrip Hit 2% Lower Circuit

A microcap corporation operating in the commercial services industry is Danube Industries. A well-known supplier of computer accessories, Danube Industries is headquartered in Ahmedabad, India. Monitors, keyboards, mouse, and other accessories are available from the firm. It provides POS systems, networking items such as wires and cables, P&L devices, circuits, and different parts, all of which are offered by the division of information technology and hardware. The company also offers anti-virus, firewall, CCTV, VDP, and an integrated navigation package for vessels.

On Thursday, the shares of Danube Industries opened at Rs 15.84 lower circuit down by 2% from the previous close of Rs 16.16. The penny stock witnessed a sharp downfall after the Board of Directors announced record date for bonus shares.

"The Company has fixed Wednesday, September 20, 2023, as the Record Date for the purpose of determining the names of Shareholders who shall be entitled for allotment of bonus equity shares in the ratio of 1 new fully paid-up equity shares of Rs. 2/- each for every 1 fully paid-up equity share held by the shareholders of the Company," said Danube Industries in a stock exchange filing.

The stock made a 52-week-high of Rs 52.35 on (13/09/2022) and a 52-week-low of Rs 12.05 on (28/03/2023), indicating that at the current market price, the stock is trading 69.75% below the 1 year high and 31.45% above the 1 year low.

The stock price climbed from Rs 0.85 to the current market price during the past five years, resulting in a multibagger return of 1,519.63%. The stock price jumped from Rs 2.21 to the current market price during the past three years, resulting in a multibagger return of 616%. The stock has declined 63.92% during the past year, and YTD, the scrip has gained 5.25% so far in 2023.

During Q1FY24, Danube Industries recorded promoters shareholding of 38.89% and public stake of 61.11%.