Penny Stock Under Rs. 50 Approves Stock Split, Hits 52-Week High, Soars 164.15% In 1 Month

Mena Mani Industries Ltd. in a Board meeting held today, June 12, 2023, has considered and approved the Split/Sub Division of Equity Shares of the Company from the existing Face Value of Rs. 10/share to 10/share Face Value of Re. 1/share. The stock split is subject to the approval of the Shareholders of the Company.

Mena Mani Industries Ltd. is a micro-cap trading company. It is in the business of trading Biofuel and also carries out construction and other information technology activities. It has a market capitalisation of Rs. 41.72 crore.

Disclosure of Split I Sub-division of shares

According to the regulatory filing by the Board of Directors of Mena Mani Industries Ltd., "The Board of Directors of the Company at their meeting held on 12th June, 2023 has considered and approved Split/Sub Division of Equity Shares of the Company from existing Face Value of Rs. 10/- (Rupees Ten Only) per Equity Share to 10 (Ten) Equity Shares of Face Value of Re. 1/- (Rupee One Only) per Equity Share, subject to the approval of the Shareholders of the Company."

Please find below details pertaining to the sub-division of the equity shares as per Regulation 30 and Schedule Ill of SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015 read with SEBI Circular CIR/CFD/CMD/4/2015 dated 9 September, 2015.

Split Ratio - Split/sub-division of 1 (One) Equity Share of the Company having Face Value of Rs. 10/- each into 10 (Ten) Equity Shares of the Company having Face Value of Re. 1/- each.

Rationale behind the split - To enhance the liquidity of Equity Shares and widen the shareholders base by making the Equity Shares more economical to the investors.

Stock Outlook - Current Market Price & Returns

On NSE, the stock of Mena Mani Industries Ltd. ended Rs. 41.71 apiece, jumped 4.98% from its previous close of Rs. 39.73 apiece. The stock has given 27.55% positive return in the past 1 week.

It gave a multibagger return of 164.15% in 1 month, and 195.39% in the past 3 months, respectively. In the past 1 year, it gave 227.14% multibagger return in 5 years, it gave 108.06% positive return.

The stock's 52 week high is Rs. 41.71 apiece and 52 week low is Rs. 10.30 apiece.

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