Stock Market Today: After witnessing a 5,800% rally in one year, the multibagger realty stock Bharat Global Developers share price hit the 5% upper circuit on Thursday following its Q2 results for the financial year 2024-25.
Bharat Global Developers share price opened at ₹1,152.80 on the BSE on Thursday, 5% higher than the previous closing price. Bharat Global Developers share price thereafter continued to trade at ₹1,152.80 level, which also happens to be the upper price band of the share price.
Notably, Bharat Global Developers share price also hit its all-time high today.
Bharat Global Developers share price with its 5,800% rally in the last one year has given multibagger returns to investors.
Bharat Global Developers during the July- September 2024 period saw its net profit rise multifold to ₹10.11 crore compared to ₹0.33 lakh in the year-ago quarter. On a sequential basis, too, Bharat Global Developers net profit grew more than 4 times compared to ₹2.54 crore in the April-June 2024 quarter.
The revenue from operation for Bharat Global Developers jumped four-fold to ₹216.5 crore during the September quarter from ₹54 crore in the June 2024 quarter. The company reported its financial results on Wednesday.
Bharat Global Developers stock is also rising ahead of a meeting of the board of directors on November 18, 2024, to deliberate on a bonus share issue of up to 10:8. If approved, shareholders would receive up to eight additional shares for every 10 shares held.
In addition, the board meeting may also consider a proposal for a stock split of up to 1:10, subject to necessary approvals. The objective of the stock split as per the company is to reduce the share price per unit, thereby making Bharat Global Developers shares more accessible and affordable to a broader range of investors. Furthermore, the board will also review the possibility of declaring a dividend of up to 100%, as per the company release on the exchanges.
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