Multibagger stock hits 52-week high as board approves stock split

The company said in a stock exchange filing today that “Pursuant to the provisions of Regulation 29 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform you that a meeting of the Board of Directors of the Company is scheduled to be held on 2019. Wednesday, February 1, 2023, will, inter alia, consider the following matters: 1. Sub-division of Equity Shares from face value of Rs.10/- per share to Rs.1/- per share. 2. Memorandum of Approval of change in the Capital Clause of the Association. 3. Any other work with the permission of the Chairman.”

The Board of Directors has recently informed the Stock Exchanges stating that “The Company has the pleasure to inform the Exchange of the latest developments and various compliances received from Thane Municipal Corporation (TMC) for Majiwada Thane Housing Project (Phase II) As per the latest UDCPR-2020 guidelines issued by the Govt. of Maharashtra, the company has applied to TMC to avail the maximum potential of the land and accordingly the company has received the revised permission on 05/01/2023 for construction of Tower G. which includes Basement + Stilt/Ground + 1st to 6th Parking Floor + 7th to 7th Floor 31st floor based on existing FSI available with the company. However, as per Chief Fire Officer (CFO) of TMC the permission is up to 52nd floor has been received and once the company procures the required TDR as per TMC guidelines; additional floor modification will be implemented. The company has received LOI from TMC, allowing us to approach MOEF for necessary modification as mentioned above The company has already Shayak has started obtaining project finance, appointed civil contractor and has also complied with all other necessary approvals and permissions to commence construction work on receipt of amendment of MoEF permission which is in advanced stage of submission. Keeping the above in mind, the company will fully utilize its available capacity at Majiwada, Thane Phase II residential tower offering 2/3 BHK luxurious/sophisticated flats with all modern amenities and facilities, catering to the local residential market at affordable prices. Will make available by offering 400 flats at cost. /reasonable rates. The company expects to generate revenue of around INR 500-600 crores in the coming 5 years from this real estate project at Majiwada, Thane depending upon the current market condition and RERA compliance/amendment from time to time. On successful completion of this project the company will be debt free and will enhance its expansion project at Aanchavio Resort with higher capacity utilization of SSP Phosphatic Fertilizer business at Wada, Palghar.”

Shares of Bharat Agri Fert & Realty Ltd today closed at 52-week high on BSE. 1098.95 each, up 1.07% from its previous close. 1087.35. The stock registered a total volume of 42,498 shares as compared to the 20-day average volume of 28,315 shares. share price climbed 149.90 as on Jan 19, 2018, at the current market price during last five years, resulting in multibagger return of 633.12%. share price exceeded 203.35 as on Jan 13, 2020 at the current market price during last three years, resulting in multibagger return of 423.43%. stock price jumped 323.95 on Jan 14, 2022, representing a multibagger return of 239.23%, at the current market price during 1 year. The stock has gained 10.93% YTD in 2023 and 191.77% for last six months, which is a multibagger return. The stock reached a 52-week low 317.00 at (14/01/2022), indicating that after making a new 52-week high today, the stock was last seen up 246.67% from its 1-year low.