Small Cap Multibagger Stock Jumps 6% On Bonus Issue Proposal, Shares Trading 30% Down From 52-Week High

Precision Wires India Ltd is the largest manufacturer of Enamelled Copper Winding Wires in India. The small cap company has a market capitalisation of Rs 1073 crore as of writing the report. The stock of the company gained 5.75% intraday on BSE soon after it announced that the board will consider and approve issuance of bonus shares on November 10, 2022. Check key takeaways below:

1. Precision Wires India Ltd To Consider Issuance Of Bonus Shares

The board of directors of the company stated in the BSE filing, "Meeting of the Board of Directors of the Company will be held on Thursday, 10th November, 2022, to consider as under: a. Approve Un-Audited Financial Statement of the Company for the Quarter and half year ended 30th September, 2022 along with Limited review report of the Auditor; b. Consider and if though fit approve issue of Bonus equity Shares to the Shareholders of the Company."

2. Precision Wires India Ltd Stock Performance

The last trading price of Precision Wires India is Rs 92 apiece with 52-week high at Rs 131 apiece and 52-week low at Rs 54 apiece, respectively. The shares are trading 29.77% down from 52-week high level.

3. Precision Wires India Return

The stock has given a return of 117% in last 5-years, 144% in last 3-years, and 56% in last 1-year. In last 3-months, the stock has jumped 23%.

4. Precision Wires India About

The small cap company came into existence in 1989 and operates in Metal-Non-Ferrous sector. Its products include round wire, rectangular wire, continuously transposed cables and paper insulated copper conductors, among others. The products are extensively used by the electronics industry globally.

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