Stock Market Today: Multibagger stock Bharat Global Developers that has given 2300% returns year to dates saw its share price hit upper circuit for 14th day in a row on Thursday. Bharat Global announced receiving Significant Orders Worth ₹251 Crores Secured by Wholly-Owned Dubai Subsidiary
Bharat Global Developers share price opened at at ₹1334.40 on the BSE on Monday, 5% higher than its previous closing price of ₹1270.90. Bharat Global Developers share price though saw some dip to ₹1334.05 however rebounded thereafter to intraday highs of ₹1279.05 which also remained its upper circuit or upper bank limit.
Bharat Global Developers share price has been regularly gaining since 30 October and Bharat Global Developers share price has more than doubled during the period closing lows of ₹642.20 on 29 October 2024. Notably Bharat Developers td share price has gained 2300% year to date and 5511% over past one year giving Multibagger returns to investors.
The strong order flow is improving prospects of Bharat Global Developers.
Bhara Global Developers in its release on 21 November 2024 Bharat Global Developers said that its wholly-owned subsidiary, based in Dubai, has secured multiple prestigious orders for processing and supplying high-value precious stones, including diamonds, rubies, emeralds, and sapphires, to prominent wholesalers and bespoke designer jewellery boutiques. Additionally, the subsidiary has been entrusted with refining and supplying precious metals such as gold and palladium to global clients.
The total value of these orders is approximately AED 109 million, translating to ₹251 crores. These orders as per Bharat Global Developers represent a substantial addition to its subsidiary’s revenue pipeline and are expected to yield an estimated profit margin of 10-12% upon successful execution over the coming months.
Earlier on 18Th November Bharat Global Developers has announced Issue of Bonus Shares in the ratio of 08: 10 i.e. 8 (Eight) new Bonus Equity Shares of Re. 10/- each for every 10 (Ten) existing Equity Share of Re. 10/- each fully paid up held as on the “Record Date” to be notified later.
Bharat Global Developers also has recommended sub-division of equity shares to face value of Rs. 1.00 per equity share from the existing face value of Rs. 10.00 per equity shares.
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