Metal Sector Penny Stock Approved Bonus Shares, Gained 820% In 6 Months, Trading Near 52-Week High

Rhetan TMT Ltd., a Small Medium Enterprise from Metal Sector, approved the allotment of bonus equity shares in the ratio of 11:4. On 17th March 2023, the stock, in its regulatory filing to BSE informed the shareholders about the allotment of 584375000 Equity Shares of the face value of Re. 1/- each as fully paid up bonus equity shares. The stock has given a multibagger return in the past 1 year. It is a penny stock having a market capitalisation of Rs 116.34 crore.

Rhetan TMT Approved Bonus Share

The company in its exchange filing to BSE has said, "We wish to inform that the Board of Directors of the Company on 17th March, 2023 has approved the allotment of 584375000 Equity Shares of face value of Re. 1/- each as fully-paid up bonus equity shares, in the ratio of eleven (11) Equity Shares for every four (4) existing Equity Shares, to the Members whose names appeared in the List of beneficial owners as on Friday, 10th March, 2023, being the record date fixed for that purpose. Consequently, the paid-up equity share capital of the Company stands increased from Rs . 21,25,00,000/- compromising 212500000 equity shares of Re. 1/- each to Rs. 79,68,75,000/- compromising 796875000 Equity Shares of Re. 1/- each."

Rhetan TMT 's stock outlook

The last traded share price of Rhetan TMT on BSE is Rs 14.60 apiece, down 0.68% from its previous close. The stock traded its 52 week low on 3 September 2022 at Rs 1.37 apiece and 52 week high on 15 March 2023 at Rs 15.50 apiece, respectively.

It has gained 3.18% in a week. It has given 19.18% in a month and 22.18% in 3 months, respectively. In 6 months, it gained 829.94%. Since its listing, it has given 720.22% positive return. The stock was listed on 5 September 2022, according to BSE.

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