Small Cap Stock Approves 3:1 Bonus Share, Trades New 52-Week High

Board of small cap stock, Magellanic Cloud Ltd today fixed March 22, 2023 as the record date for 3:1 bonus share. The company on Tuesday approved bonus share in the ratio of 3:1. Soon after the announcement, the stock traded its new 52-week high. The stock gave a return 2069% in last 3-years. Check details below:

Magellanic Cloud Ltd Approves Bonus Issue, Sets Record Date: According to the BSE filing of the company, "With reference to the captioned subject, we wish to inform you that the Board of the Directors of the Company at their meeting held today i.e., March 14, 2023 have considered, approved and recommended a Bonus Issue of 3 Equity Shares of Rs. 10/- each fully paid up for every 1 Equity Share of Rs. 10/- each fully paid up held as on the 22nd March, 2023 being the Record date."

Magellanic Cloud Ltd Stock Performance: Current market price of Magellanic Cloud Ltd is Rs 638.00 apiece with intraday gain of 4.41% on BSE. The stock hit upper circuit today. 52-week high of Magellanic Cloud Ltd is Rs 641.45 apiece and 52-week low is Rs 270.50 apiece, respectively.

Return: The company has a market capitalisation of Rs 1,791.90 crore. The stock gave a return of 2069% in last 3-years, 1189% in last 5-years, and 56% in last 1-year. It rallied 45% in last 3-months and 99% in last 6-months.

Financial Outlook: The company for the quarter ended December 31, 2022 declared a consolidated total income of Rs 133.69 crore, up 26.05% from last quarter total income of Rs 106.06 crore. It declared its net profit after tax at Rs 17.35 crore in latest quarter.

Magellanic Cloud Ltd About: Magellanic Cloud Limited offers information technology services. It provides software development, consulting, and human resource business solutions. The small cap company was incorporated in 1981.

Disclaimer: The stock announced bonus share and fixed record date today. 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.