Multibagger stock: Nandan Denim share price rises 14% ahead of stock split announcement

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Stock market today: Nanda Denim shares, one of the multibagger stocks that the Indian stock market has delivered in recent years, continue to show promise. In just one year, Nandan Denim's share price has surged from nearly ₹20.50 to ₹46 apiece, delivering over 120 per cent return to its positional shareholders.

This small-cap multibagger stock still has room to grow, as evidenced by its share price today opening with an upside gap at ₹42.95 apiece on NSE and touching an intraday high of ₹48.60 per share, recording an intraday rise of 14 percent during Thursday deals.Of significant note, Nandan Denim is in the spotlight as the board of directors has scheduled a crucial meeting to discuss and approve a stock split proposal. This announcement, made to the Indian stock market, states, "In accordance with Regulation 29 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, please be informed that the Board of Directors will convene on Monday, June 17, 2024, to consider and approve the Sub-division / Split of Equity Shares of the Company as per the provisions of Section 61 of the Companies Act, 2013." This proposal could potentially have a significant impact on the company's stock performance and is therefore a key event for investors to watch.Also Read: BHEL share price jumps 14%, rises 19% in two days.

More steam left?Delving into the share price history of Nandan Denim, we observe a consistent upward trajectory. In a span of just one month, the stock has surged from ₹38 to ₹46 per share, marking a 20 percent increase.

Over the past six months, the share price has appreciated from ₹28.30 to ₹46, a significant 60 percent rise. Year-to-date, the stock has climbed