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Penny stock to consider stock split, scrip hits 5% upper circuit

A small-cap business with a market valuation of 41.16 Cr, Maxheights Infrastructure Ltd operates in the consumer discretionary industry. Since 1981, Maxheights Infrastructure Ltd. has been one of the top infrastructure firms in Delhi and the National Capital Region (NCR). The company has informed stock exchanges that the Board of Directors will be held on Tuesday, the 06th day of December, 2022 to consider stock split and various options for raising funds.

The company has said in a stock exchange filing that “Pursuant to Regulation 29 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, notice is hereby given that the meeting of the Board of Directors of Max Heights Infrastructure Limited (‘the Company’) will be held on Tuesday, the 06th day of December, 2022 at 03:30 P.M. at the Registered Office of the Company, SD-65, Tower Apartment, Pitampura, New Delhi -110034, inter alia, to consider and approve the following matters:- 1. To consider various options for raising funds; 2. To consider sub division/ split of the Equity Shares of the Company; 3. To consider making investment/ loan to the Subsidiary Company; 4. Any other matter with the permission of the Chairman.”

On the BSE, the shares of Maxheights Infrastructure Ltd closed today by hitting a 5% upper circuit at 26.37 apiece level. In trade today the stock recorded a total volume of 42,332 shares. In the last 1 year, the stock has gained 93.33% and on a YTD basis, the stock has gained 51.12% so far in 2022. The stock has produced a multibagger return of 121.97% during the past six months, and it has soared by 90.40% over the past month. The stock had touched a 52-week-low of 11.75 on (02/06/2022), indicating that after today’s closing at a fresh 52-week-high level, the stock was seen trading at 124.42% above the low. For the quarter ended September or Q2FY23, the company declared a promoter stake of 52.78% and a public shareholding of 47.22%.

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