Servotech Power Systems Ltd has announced that its Board of Directors will hold a meeting on Thursday, May 25, 2023, at 03:00 p.m. to discuss and approve several matters. These include the sub-division (split) of the face value of equity shares, the alteration of the capital clause in the memorandum of association and any other routine matters brought before the Board with the consent of the Chairman.
On Tuesday, the benchmark indices started the day higher with Adani Stocks gaining significantly for second consecutive day. NSE Nifty-50 Index is up by 0.47 % at a level of 18,400.
Shares of Servotech Power Systems emerged as one of the trending stock on the NSE. The company’s shares surged 5% upper circuit to Rs 97.95 per share, up from the previous closing price of Rs 93.30 per share. The stock has experienced significant buying interest, reaching a fresh 52-week high of Rs 97.95 per share. The stock has delivered multibagger returns of 760% from its 52-week low of Rs 11.40 per share.
Servotech Power Systems is a small-cap company with a market valuation of Rs 1,000 crore. In Q4FY23, the company reported a remarkable 363% increase in net profit, amounting to Rs 6.05 crore. Its revenue from operations stood at Rs 115.3 crore in the quarter, while other income surged to Rs 4.67 crore. If approved, this would be the second split within a year, following the face value split from Rs 10 to Rs 2 in February 2023.
In addition to its core business of manufacturing and distributing EV charging solutions, solar products and medical devices, Servotech Power Systems has shown impressive stock performance. It has surged by 260% in the past 6 months, 520% in the past 1 year and an astounding 5,000% in less than 3 years. Investors are advised to closely monitor this small-cap stock.