This Multibagger Stock Recommends Bonus Share Issue: Check Details

Mishtann Foods Ltd is a small-cap business in the food processing industry with a market cap of Rs 1,365.00 Crore. Mishtann basmati rice is one of India's best-known brands. The company has informed the Indian stock exchange BSE that its Board of Directors has recommended a bonus issuance of one equity share for each share held by a shareholder.

"Recommendation of issue of Bonus Equity Shares in the proportion of I (One) Equity Share of Rs. 1/- each for every I (one) Equity Share of Rs.l/- each held by shareholders of the Company as on the record date, subject to the approval of members and other approvals, consents, permissions, conditions and sanctions, as may be necessary. The record date for reckoning eligible shareholders entitled to received bonus shares will be communicated later" the company has said by informing BSE.

The firm recorded a total income of Rs. 153.4730 crores for the year ended March 31, 2022, up from Rs. 105.1872 crores for the year ended March 31, 2021, a 45 per cent increase on a year-over-year basis. For the quarter ending March 31, 2022, the firm recorded an EPS of Rs. 0.26.

On the BSE, the company's shares have climbed from Rs 4.57 on May 6, 2021 to Rs 24.10 as of May 5, 2022, 3:29 pm IST, showing a multibagger return of 427.35 per cent in one year. Year-to-date (YTD), the stock is up 10.55 per cent, and in the previous six months, it has increased by 24.55 per cent. The stock has dropped -8.54 per cent in the past month and -10.74 per cent in the previous five trading days. The stock closed the day at a market price of Rs 24.10, down -0.050 (0.21 per cent) from its previous close of Rs 24.15. On January 24, 2022, the stock reached a 52-week high of Rs 39.10, and on May 11, 2021, it reached a 52-week low of Rs 3.95. The stock is now trading 38 per cent below its 52-week high at its current market price. According to Bloomberg Quint, Mishtann Foods Ltd. is trading higher than 200-day moving averages but lower than 5 days, 20 day, 50 day, and 100-day moving averages at the current market price of Rs 24.10.