Small-cap stock Hardwyn India Ltd jumps after forming new company. Details here
Small-cap stock under ₹50: Despite heavy sell off at Indian stock market, Hardwyn India shares have been able to attract buying interest by Dalal Street bulls. After gap up op[ening Hardwyn India share price today ascended to intraday high of ₹38.45 apiece levels on NSE, logging around 2 per cent rise against its Friday close of ₹37.70 apiece.
Small-cap stock that traded ex-split in June 2023 for subdivision of stock in 1:10 ratio has remained under base building mode for the last one month, delivering zero return to its positional investors. However, the company attracted bulls' attention after announcement of forming a new company.
As per the exchange filing details available on Indian stock market exchanges, the small-cap company below ₹50 said, "With reference to the captioned subject, Company in its board meeting held today proposes to incorporate Subsidiary in the name and style, ‘SLIMX INTERIOR SOLUTIONS PRIVATE LIMITED’ Registrar of Companies (Delhi), being subscribers and making an investment of ₹20,00,000/- (2,00,000 Equity Shares of ₹10/- each), of which ₹17,00,000/-(1,70,000 Equity Shares of Rs. 10 each) shall be subscribed in the very name of the company." "Exciting news! Mint is now on WhatsApp Channels
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