New Bonus Issue, Stock Split Announced: Multibagger Small Cap Stock Hits Upper Circuit

Multibagger small cap stock, Rhetan TMT Ltd hit upper circuit in trade on December 6, 2022 following board of directors' announcement to consider stock split and bonus issue in their upcoming meeting. The next meeting of Rhetan TM is scheduled to be held on December 21, 2022, according to the BSE filing of the company dated December 5, 2022.

The company has a market capitalisation of Rs 667 crore. Check key takeaways below:

1. Rhetan TMT Ltd To Consider Bonus Issue, Stock Split This Month

The board of directors of the company said in the BSE filing date 5 December, 2022, "The meeting of the Board of Directors of the Company is scheduled on 21/12/2022 ,inter alia, to consider and approve 1) To consider a proposal for sub-division / split of the Equity shares of the Company having a face value of Rs. 10/- each, subject to such regulatory/ statutory approvals as may be required, including the approval of the shareholders of the Company and, 2) to consider Issue of Bonus Shares to the shareholders of the Company."

2. Rhetan TMT Ltd Stock Performance

The current market price of the stock is Rs 314 apiece with an intraday gain of 5%. The stock hit 5% upper circuit limit today.

When a stock hits upper circuit, it implies it will have only buyers and no sellers.

Therefore, you will not be able to buy back the specific stock sold for intraday. The stock's 52-week high is Rs 314 apiece and 52-week low is Rs 50 apiece, respectively.

3. Rhetan TMT Return

The stock has given 28% return in 1-week, 127% return in 1-month, and 396% return in last 3-months. In last 6-months, it has jumped 372%.

4. Rhetan TMT About

Rhetan Rolling Mills Private Limited is a Company based at Ahmedabad, Gujarat was incorporated on 26th January, 1984. The Company is promoted by Mr. Shalin A. Shah and Mr. Ashok C. Shah.

The organization is actively engaged in the manufacturing of premium Quality TMT Bars confirming to ISI Standards, according to its official website.

Disclaimer

The stock gives details pertaining to stock split and bonus issue announcement. Greynium Information Technologies and the author are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.