look news india
A big news has come out regarding Manaksia Coated Metals & Industries which is giving excellent returns. The company has informed the exchange that it has approved the preferential issue to raise ₹134.55 crore. This decision was taken in the board meeting held on 26 December 2024.
Use of funds raised
The company has informed that it will issue 2.07 crore convertible warrants at ₹65 per warrant.
- Purpose of use:
- Reducing debt.
- Increasing production capacity.
- Using funds for other business purposes.
Stock performance: Tremendous returns to investors
Manaksia Coated Metals shares have given excellent returns to investors in the last few years:
- 6 months: Shares gained 82%.
- 1 year: 280% returns to investors.
- 5 years: The company’s shares have given returns of more than 2800%.
- Example: If an investor had invested ₹1 lakh 5 years ago, it would have become more than ₹29 lakh today.
- 52 week high: ₹114.95
- 52 week low: ₹28
- Market cap: ₹831 crore
Promoters and public’s stake
According to BSE data, as of September quarter:
- Promoters’ stake: 69.19%
- Public stake: 30.81%
There has been no change in the stake of promoters and public in the last few quarters.
dividend record
The company has paid dividends three times in the last few years:
- 2021: ₹0.03 per share
- 2023: ₹0.03 per share
- 2024: ₹0.05 per share
Company strategy and prospects
The company is taking big steps towards expanding its business and reducing debt.
- Fund raising: To increase production capacity and strengthen financial position.
- Prospects for investors: After giving returns of 2800% in 5 years, the company’s new steps may make it more attractive.