Multibagger penny stock up 285% in 1 year, board approves 1:10 stock split

The company in a regulatory filing said that “The Board of Directors of the Company in its meeting held on October 12, 2022 has considered and approved the following matters; 1. The Board has decided to change the name of the Company from “Sarda Papers Limited” to “Tahmar Enterprises Limited” or such other name as may be approved by the regulatory authorities under the Companies Act, 2013 or any other rule, law, act. Laws or regulations that may apply to the company and changes to the company’s Memorandum and Articles of Association. 2. The Board has decided to change the core objectives of the Company and matters necessary for furtherance of the objectives of the Company, subject to the approval/approval of the Shareholders and Regulatory Bodies. The current management has established a mandate to conduct business activities for manufacturers, producers, processors, refiners, distributors, dealers, sellers, retailers, marketers, agents, importers and exporters of enea, ethyl alcohol, ethanol, biodiesel fuels, bio-fertilizers, fuels. has been proposed. Ethanol Additives, Oils, Fuel Oils, Cattle Feed (Protein), Dried Distillery Grains Soluble – DDGS, Pellet, By-products, Whiskey, Brandy, Rum, Gin, Vodka, Liquor, Beer, Liquor, All Kinds of Brewery and Description Winery and other beverages including aerated and mineral waters and other beverages, publication of magazines and consequent changes to the Memorandum of Association of the Company. 3. Approved sub-division of equity shares of the company from the existing one (1) equity share of face value of Rs. 10/- each in ten (10) equity shares of face value of Rs. 1/- each, subject to the approval of the shareholders. 4. The Board decided to reclassify 1% redeemable preference shares out of its authorized share capital of Rs. 100.00/- (Rupees Hundred) each of 4,25,00,000 (Four Crore Twenty Five Lakh) equity shares of Rs.1.00/- and subsequently increase the authorized share capital of the company by Rs. 7,75,00,000/- (Rupees Seven Crore Seventy Five Lakh Only) up to Rs. 49,00,00,000 (Rupees Thirty Nine Crores only) of the Company and consequent changes to the Memorandum of Association of the Company, subject to the approval of the Shareholders. 5. To raise funds for an amount not exceeding Rs. 45,00,00,000/- (Rupees Forty Five Crores only), as on record date (to be notified later), through a rights issue to the eligible equity shareholders of the Company, in accordance with applicable laws, Securities and Exchanges of India including Securities and Board of India (Capital and Disclosure Requirements) Regulations, 2018, amended, SEBI Listing Regulations, subject to regulatory approvals, if any, along with relevant circulars issued by the Board of Exchange, Companies Act, 2013 (“Right Issue”). The rights issue will be either equity or any other convertible instrument.”

The last traded value of Sharda Papers Limited was 16.00 each, recorded on 10 October 2022. In the last 5 years, the stock has grown by 57.48% and in the last 3 years, the stock has generated a multibagger return of 135.29%. In the past 1 year, the share price has increased by 4.15 up to the current market price as of 18 October 2021 which logs a multibagger return of 285.54%. On YTD basis, the stock has increased by 43.63% and in the last 6 months, the stock has increased by 49.53%. For the quarter ended June 2022, the company recorded promoter shareholding of 74.14% and public shareholding of 25.86%.