With 1-year CAGR of 990% this multibagger stock to turn ex-bonus soon

With 1-year CAGR of 990% this multibagger stock to turn ex-bonus soon


EKI Energy Services is a large-cap firm that operates in the commercial service industry, with a market cap of 20,622 Cr. Globally, the organisation offers solutions for climate change, carbon credits, and sustainability. The organisation provides environmentally friendly services like carbon offset standards, carbon offsetting, renewable energy attributes, carbon foot printing & neutrality in an effort to create a low-carbon economy worldwide. 

The firm has approved the issuance of bonus shares in a 3:1 ratio, meaning that for every share owned, three additional shares would be issued. For this purpose, the company has set July 5th, 2022 as the record date, and the stock will trade ex-bonus on July 4th, 2022, or the following Monday of the upcoming week. The total number of securities proposed for issuance is 2,06,22,000 bonus shares for a total of around Rs. 20,62,20,000. 

According to the share capital details, the pre-bonus issue is Rs. 6,87,40,000, while the post-bonus issue stands at Rs. 27,49,60,000. According to details in the company’s exchange filing, the company expects to credit or release the bonus shares on or before July 12, 2022 to the shareholders.

The stock climbed 3.50 per cent from its previous close of 7240.70 and settled at 7494.30 on Friday on BSE. The stock has increased significantly over the past year from 688.25 on July 2, 2021 to the current level, representing a multibagger return of 989.72 per cent or an approximate CAGR of 990 per cent. Year-to-date (YTD), the stock has fallen 28.06 per cent so far in 2022, and over the past month, it has declined 0.52 per cent. The stock has climbed by 12.44 per cent during the past five trading sessions, and over the past two days, it has surged by 4.1 per cent. 

The BSE-listed stock reached a 52-week high of 12,599.95 on January 24, 2022, and a 52-week low of 688.25 on July 2, 2021. At the present level, the stock is trading 40.52 per cent below its 52-week high and 988 per cent higher than the 52-week low. The stock is trading above the 5 days, 20 days, and 200-day moving averages but below the 50 days and 100-day moving averages according to the current price. The promoter shareholding in the firm remains steady at 73.47 per cent since June 2021, and the public shareholding is low at 15.30 per cent as of March 2022 compared to the quarter that ended in December 2021.

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