Multibagger stock rises 9% in 1 day ahead of Q2 results, 1:10 bonus issue record date tomorrow

However, the stock rose around 9 per cent in the intraday trade, where it was trading at ₹138 per piece on the BSE.

Ruchira Papers has become a multibagger stock in the post pandemic era, as compared to its price level of ₹27.68 apiece on March 25, 2020 shares have skyrocketed by about 383.38 per cent. This means that the investors wealth has increased nearly 5 folds in the post pandemic period.

In the last 1 year, the stock has gained 46.25% and on a YTD basis, the stock has gained 59.11% so far in 2022.

The company last week had revised the ‘Record Date’ to Tuesday October 11, 2022, instead of 10 October 2022 to determine eligible shareholders entitled to receive bonus shares in the ratio of 1:10. This means one new fully paid-up equity share of ₹10/- each to be issued for every ten equity shares held.

The company in August announced that its board of directors have considered and approved “Issue of bonus shares in the ratio of 1:10 i.e. 1 (One) new fully paid-up equity share of Rs. 10/ each to be issued for every 10 (Ten) equity shares held, subject to approval of shareholders of the Company at ensuing AGM. The board has fixed Monday, 10th day of October 2022 as record date for the purpose of determining the members entitle to receive bonus shares.”

Ruchira Papers Q1FY23 net profit surged to ₹11.6 crore as compared to ₹4.5 crore in the year-ago quarter. Meanwhile, its revenue jumped to ₹199 crore during the quarter under review as against ₹126 crore.