Multibagger Stock 2024: Small cap plastic manufacturing company Rajoo Engineers Ltd (BSE: 52257) has announced a bonus. The shares of Rajoo Engineers touched an all-time high of Rs 322.80 on Friday, June 29.
Let us tell our readers that, Rajoo Engineers is a multibagger stock that has given more than 623% returns in the last year. The company also recommended final dividend for shareholders on June 28. Check more details below.
Bonus and Dividend Announced
The board of directors issued bonus shares for investors at a ratio 1:1. This means shareholders will get 1 free share for existing 1 equity share held.
In addition, the company will also pay a final dividend to shareholders. However, the record date for bonus and dividend is not fixed yet. The bonus and final dividend are subject to shareholders approval. In the upcoming Annual general meeting (AGM) dividend will also be declared.
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Share Performance
The shares of Rajoo Engineers closed 1.88% higher at Rs 317.50 on Friday, June 29. During the trading session, it touched an all-time high of Rs 322.80 while its 52-week low is Rs 41.65.
Rajoo Engineers Ltd emerged as a multibagger stock that has given 623% returns in the last year. So far this year, it has gained as much as 52.39%. With this market cap of the company reached Rs 1952.77 crore.
About the Company
Rajoo Engineers Ltd is a leading plastic manufacturing company. The company engaged in the business of producing and exporting plastic extrusion machinery. Apart from this it also provides high quality packaging solutions.
The promoters holding of the company is 66.56% and public holding 33.07% respectively. Most importantly, the company is debt free so there’s a huge possibility of growth in future.
Investors should note that the shares of Rajoo Engineers Ltd are trading above its 20day, 50 day, 100 day, 150 day and 200 day simple moving averages (SMA). It has outperformed the sector by 0.98% which indicates a positive sign for future growth.
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