Multibagger stock fixes board meeting on 28th January to consider stock split

Multibagger stock fixes board meeting on 28th January to consider stock split

Market


Stock split 2023: .hares of Hi-Tech Pipes Ltd are one of the multibagger stocks that Dalal Street has delivered in recent years. The small-cap company has recently reported strong quarterly update as it recorded highest sales volume and 40 per cent YoY growth in Q3FY23. After reporting strong business ipdate in Q3FY23, Hi-Tech Pipes Ltd has informed Indian bourses that its board of directors are going to consider stock split in its upcoming meeting scheduled on 28th January 2023. The sall-cap company is expected to announce its Q3FY23 results on 28th January 20223 as well.

Informing stock market exchanges about the agenda of upcoming board meeting, Hi-Tech Pipes Ltd said, “Pursuant to Regulation 29 and other applicable provisions of SEBI (Listing Obligations and Disclosure Requirements)Regulations, 2015, this is to inform you that the meeting of the Board of Directors of the Company will be held on Saturday, the 28″ day of January, 2023,to consider, approve or recommend following businesses: 1] The Un-Audited Financial Results (Standalone and Consolidated) of the Company for the Quarter ended December 31, 2022. 2] Proposal of Sub-Division/ Split of the equity shares of the Company, having a face value of Rs. 10 each, in such a manner as the Board may determine.”

As mentioned above Hi-Tech Pipes has delivered whopping return to its shareholders in post-Covid rally. In last near three years, this small-cap stock has surged from around 70 to 858 apiece levels on NSE, delivering 1100 per cent return to its shareholders in last three years. However, the small-cap multibagger stock has given strong returns in recent sessions as well. In last six months, it has risen from near 500 to 858 apiece levels, delivering to the tune of 70 per cent return to its shareholders. In last one year, this multibagger stock has given near 40 per cent return to its shareholders.

This multibagger stock is available for trade on both NSE and BSE. It ended on Tuesday with a market cap of 1054 crore and its trade volume on Tuesday was 70 only. However, its average trade volume in last 20 sessions is 94,265.


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