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The shares of Servotech Power Systems, a company that manufactures solar and EV charging solutions and medical devices, hit the upper circuit yesterday i.e. on Thursday. The board has given approval to split this multibagger stock into 2 parts. After the arrival of this news, the shares of the company have hit the upper circuit.
In the information given to the stock markets, the company has said that a share with a face value of Rs 2 has been approved to be divided into 2 parts. After which the face value of the company’s shares will be reduced to Re 1 only. Let us tell you, the company’s net profit in the March quarter has been Rs 6.05 crore. Whereas in the same quarter a year ago, the company’s net profit was Rs 1.3 crore.
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On Thursday, the shares of Servotech Power Systems opened at Rs 80.82. But after hitting the upper circuit of 5 per cent, the stock reached the level of Rs 88.65. 5 years ago the price of one share of the company was Rs.5.04. That is, during this period, positional investors have seen a gain of 1658.93 percent. The good thing from the investors point of view is that Servotech Power Systems share price has seen a rally of up to 173 percent so far this year. Let us inform, the market cap of this small cap company is Rs 942 crore.