Shares of Ok Play India – one of the largest manufacturers of plastic moulded toys, fun stations and playground equipment – zoomed 10 per cent on Monday to hit the upper circuit. The stock was locked in a 10 per cent upper circuit when it touched an intraday high of Rs 149.05 apiece. The stock had a gap-up opening in the morning deal with a gain of 5.46 per cent.
The stock has been gaining for the last three days and has risen 26.47 per cent in the period.
The rally in share price coincides with the company’s board approving a sub-division of the split of shares in the ratio of 10:1. This means that each stock with a face value of Rs 10 will split into 10 equity shares with a face value of Re 1.
“…sub-divide/split the equity shares of the company… every 1 equity share of the nominal/face value of Rs 10 each into 10 equity shares of the nominal/face value of Re 1,” Ok Play said in a filing.
According to the information available on the BSE, Ok Play has a market cap of around 394 crore and the scrip has given a whopping 828 per cent return in 3 years as against a 49.62 per cent jump in Sensex. So far this year, the stock has given a positive return of over 200 per cent.
Meanwhile, the company recently declared its second-quarter results for the financial year 2023-24. The company has reported Rs 40.31 crore revenue, which is 0.55 per cent higher against its Q2FY23.
Founded in 1989, OK Play India, is engaged in the business of manufacturing plastic molded toys, automotive components and e-vehicles. The company is also the market leader in the field of plastic fuel tanks for heavy commercial vehicles.
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