Multibagger penny stock to consider bonus shares, stock split after 140% rally in YTD | Stock Market News
Source: Live Mint
Multibagger penny stock: AA Plus Tradelink has announced two potential shareholder-friendly moves, including a stock split and a bonus share issue, on October 10. AA Plus Tradelink share price has rallied around 140 per cent on a year-to-date (YTD) basis, as per BSE Analytics.
Meanwhile, AA Plus Tradelink were locked at a 5 per cent lower circuit on Thursday, October 10, closing at ₹20.63.
According to a regulatory filing, the Board of Directors will review these corporate actions, which could impact the stock’s accessibility and liquidity.
AA Plus Tradelink share price history
AA Plus Tradelink stock has gained over 139 per cent, from the levels of ₹8.19 closing at ₹19.60 on October 11, Friday, as per BSE.
The stock has surged around 114 per cent during a period of one year and delivered multibagger returns in 2024, skyrocketing over 140 per cent year-to-date. Despite Thursday’s drop, the shares remain 27 per cent below their all-time high of ₹26.88, reached in July 2024. The stock has gained more than 180 per cent from its 52-week low of ₹7.01, recorded in February 2024.
The stock split is aimed at lowering the share price, making it more affordable for retail investors. It’s expected to improve liquidity by increasing the number of shares available for trading, which could reduce price volatility and ease market transactions, as per the filing.
The company emphasized that the announcement complies with SEBI regulations, including those concerning stock splits and bonus issues. It also adheres to BSE disclosure guidelines, ensuring timely and accurate information for investors.
Shareholder participation
The upcoming corporate actions will be discussed at an Extraordinary General Meeting (EGM) or through a postal ballot. Shareholders will have the opportunity to vote on the proposed changes. Additional details on the meeting and voting procedures will be shared soon.
Founded in 2016, AA Plus Tradelink specializes in wholesale trade services, including the supply of iron, steel, aluminium, and alloy products. The company also offers installation services for aluminium windows and glass fittings. With a strong financial record, AA Plus Tradelink continues to pursue growth and value creation for its stakeholders.
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