Introduction:
Advik Capital Company, a wealth-generating company, has witnessed a remarkable boom in its share price in a short period of time. In just three years, the company’s shares have provided a return of 800 percent to its investors. The board of directors recently discussed the terms and conditions related to the rights issue in a meeting held on September 2, 2023. The rights issue plan was approved by the shareholders through a postal ballot on May 18, 2023. Under the rights issue, Advik Capital Company will issue shares worth Rs 50 crore to its shareholders.
Advik Capital Company’s Share Price Today:
As of today, September 7, 2023, the shares of Advik Capital Company closed at Rs 2.52, experiencing a gain of 1.61 percent. The company will issue fully paid-up equity shares as part of its rights issue. The Board of Directors has approved the issuance of 20.79 crore equity shares with a face value of Rs 1, aiming to accumulate capital of Rs 49.91 crore. The share price for the rights issue has been fixed at Rs 2.50, and the record date was set as September 7, 2023. Over the past month, the company’s stock has provided a return of 25.37 percent to its shareholders.
Trading Performance and Market Capitalization:
In Tuesday’s trading session, Advik Capital Company’s shares were trading at Rs 2.48, up 1 percent. The company currently has a market capitalization of Rs 55 crores. The share price has reached a 52-week high of Rs 5.16, while the lowest level price was recorded at Rs 1.96.
Important Consideration:
It is essential to note that Advik Capital Company shares are considered penny stocks, which means they have a price cheaper than Rs.10. Investing in such stocks carries risks, and it is advisable to consult experts before making any investment decisions.
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