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KCD Stocks Surged 4% Before Rights Issues!

18 May 20232 mins read by Angel One
In just six months, the stock has delivered an impressive multibagger return of 159%, while the BSE Small-cap Index only witnessed a modest increase of 4.60% during the same period.
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KCD Industries India Ltd emerged as one of the top performers on the Bombay Stock Exchange (BSE) today, as its shares experienced a remarkable surge of 5%, to Rs 28.40 per share, surpassing the previous closing price of Rs 27.15. In just six months, the stock has delivered an impressive multibagger return of 159%, while the BSE Small-cap Index only witnessed a modest increase of 4.60% during the same period.

KCD Industries has recently made an announcement regarding a rights issue for its equity shareholders, offering a ratio of 19:7. This rights issue will encompass a total of 2.72 crore shares. The issue price for each equity share is set at Rs 18, which includes a premium of Rs 17 per equity share. The rights issue is scheduled to open on May 31, 2023 and will conclude on June 14, 2023.

Previously, KCD Industries made an announcement regarding a sub-division/split of its equity shares. The company revealed that each existing equity share with a face value of Rs 5 will be split into five new equity shares, each with a face value of Rs 1. The record date for this sub-division/split was fixed as Friday, February 17, 2023.

Established in 1985, KCD Industries India Ltd operates as a small-cap company with a market capitalization of Rs 28.40 crore. Primarily involved in the construction business, the company has also secured multiple orders from various Government of India projects, further contributing to its growth prospects.

From a financial standpoint, KCD Industries has exhibited promising performance. With a market capitalization of less than Rs 50 crore, the company has reported excellent numbers in its quarterly results. In the third quarter of the fiscal year 2022-2023 (Q3FY23), the net profit soared to Rs 0.21 crore, marking a significant improvement from the net profit of Rs 0.02 crore in the corresponding quarter of the previous fiscal year (Q3FY22), up 3,450%. Notably, the stock’s 52-week high stands at Rs 29.60 per share, while its 52-week low was recorded at Rs 7.38 per share. Investors should keep a close eye on this micro-cap stock.

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