160% Return In 1 Year Multibagger Stock Recommends 2:1 Bonus Shares

Small-cap firm MRP Agro Ltd operates in the consumer discretionary industry. The company is a top-tier integrated trading and import-export corporation for food products in India, including grains, rice, oilseeds, dry fruits, and edible oils. MRP Agro deals in the import and export of products including coal, fly ash, and food grains.

The company has declared bonus shares in a 2:1 ratio and for the purpose of the same it has informed stock exchanges by saying that the Board of Directors have "approved and recommended to capitalize to the extent of Rs. 6,69,01,800/- (Rupees Six crores sixty-nine lakhs one thousand eight hundred Only) or such other amount from and out of General Reserves account of the Company, for the purpose of Issuance and allotment of 66,90,180 (Sixty Six Lakh Ninety Thousand One hundred eighty) fully paid up Bonus Equity Shares of Rs. 10/- each, to the shareholders of the Company in the proportion of Two fully paid-up equity share of Rs. 10/- each for every one fully paid equity share of Rs.10/- each held that is in the ratio of 2:1."

The estimated date for credit of bonus shares will be within 2 months from the date of Board Meeting held on August 28, 2023 wherein the decision to announce the bonus was taken subject to the approval of shareholders, hence it will be on or before October 26, 2023, according to MRP Agro.

On Wednesday the shares of MRP Agro opened on the BSE at Rs 136.10 apiece. The stock made a 52-week-high of Rs 182.89 on (31/07/2023) and a 52-week-low of Rs 52.20 on (01/09/2022), indicating that at the current market price, the stock is trading 25.58% below the 1 year high and 160.72% above the 1 year low. During Q1FY24, the company recorded promoters shareholding of 72.47% and public stake of 27.53%.