After Rallying 550% In 1 Year, Multibagger Stock Approves Stock Split

EFC India is a small-cap multibagger stock that Dalal Street has produced in 1 year. In order to enhance liquidity in the market, the company has approved stock split for its eligible shareholders.

"The Board has recommended Sub-Division/Split of Equity Shares of the Company from Face Value of Rs. 10/- each to Face Value of Rs. 2/- each. The Company will take appropriate approval from the members under the applicable laws. The Board has recommended Alteration of Capital Clause of Memorandum of Association of the Company in accordance with Sub-Division/Split of Equity Shares of the Company from Face Value of Rs. 10/- each to Face Value of Rs. 2/- each. The Company will take appropriate approval from the members under the applicable laws," said EFC India in a stock exchange filing on Monday.

While its sales were Rs 7.00 Cr during FY22-23, the firm reported net revenue of Rs 1.20 Cr during Q4FY23. According to statistics from BSE, the company recorded a net loss of Rs -0.56 Cr for the quarter that ended in March 2023, as opposed to a net profit of Rs 0.49 Cr for FY22-23.

The shares of EFC (I) Ltd opened today on the BSE at Rs 976.60 apiece. While writing this copy the scrip was trading at Rs 965 with an upside gap of 3.75% from its previous close of Rs 930.10. The stock made a 52-week-high of Rs 983.95 on (03/02/2023) and a 52-week-low of Rs 147.55 on (18/07/2022), indicating that at the current market price, the stock is trading 1.92% below the 1-year high and 554.01% above the 1 year low.

The stock price climbed from Rs 147.55 to the current market price during the course of the last year, recording a multibagger return of 554.02%. On a year-to-date basis, it grew from Rs 337.55 to the current market price, recording a multibagger return of 185.88% so far in 2023.

The company indicated a promoter stake of 67.03% during Q4FY23 and a public shareholding of 28.17%.