Multibagger Stock Posts Stock Split Update After Gaining 120% From 1 Yr Low

The Indian Link Chain Manufacturers Limited is a micro-cap company in the capital goods sector with a market cap of Rs 8 Cr. The company started off as a chain producer. It dealt with the distribution and trade of chemicals and steel chains. The company has announced a stock split corporate action and for the purpose of the same record has been finalised.

"The Board of Directors of the Company had vide intimation dated 07th December, 2023 had fixed Tuesday, December 19th, 2023 as the Record date for the purpose of split / subdivision of existing equity share of Rs. 100/- each into equity shares of Rs. 10/- each. However, due to procedural reasons, BSE Limited (BSE) has directed to withdraw the said record date. The revised record date shall be intimated in due course," said The Indian Link Chain Manufacturers in a stock exchange filing.

The company reported a net income of Rs 0.06 Cr in the quarter ended September 2023 compared to Rs 0.04 Cr in the September 2022 quarter. Its net expenses reached Rs 0.04 Cr in Q2FY24 as against Rs 0.18 Cr in Q2FY23. Its EBIT stood at Rs 0.02 Cr which was Rs (-0.15) Cr in the year-ago quarter. Its net profit stood at Rs 0.02 Cr in Q2FY24 compared to a net loss of Rs 0.15 Cr in the corresponding quarter of the previous fiscal.

The shares of Indian Link Chain Manufacturers were last seen traded at Rs 1543.55 apiece level on the BSE. The scrip reached a 52-week-high of Rs 1,593.45 on (04/09/2023) and a 52-week-low of Rs 703.20 on (06/12/2022), indicating that at the current market price, the stock has gained 119.50% from its 1 year low.

In the last 1 year, the stock has gained 99.10% and on a YTD basis, the scrip has surged 11.05% so far in 2023. During Q2FY24, the company booked promoters' shareholding of 55.40%, DIIs stake of 0.08% and public stake of 44.52%.