Geekay Wires Limited, located in Hyderabad, is an ISO 9001:2008 certified company specializing in the production of high-quality Galvanized Steel Wires. These wires have diverse applications in industries such as Power Transmission, Cable & Conductor, General Engineering, and Construction. With a manufacturing history spanning more than two decades, Geekay Wires Limited has firmly established itself as a leading supplier of ACSR Steel Core Wire and GS Earth-Wire. The company places a strong emphasis on quality, making it a central guiding principle in all its operations. Comprehensive quality control is an integral part of the manufacturing process, commencing with the selection of raw materials and continuing through to the production of finished goods.
Geekay Wires Limited stands out as one of the multibagger stocks that the Indian stock market has seen in 2023. This small-cap stock, with a market capitalization of ₹387 crore, has shown remarkable growth, surging from around ₹75 to ₹365 per share on the NSE, delivering a substantial 400 percent return year-to-date (YTD). The company’s board of directors has decided to acknowledge its long-term and positional investors by implementing a stock split in a 1:5 ratio. The stock split record date has been set for October 23, 2023, and as a result, the small-cap stock will commence trading ex-split today.
In its notification to the Indian stock market authorities regarding the stock split record date, the NSE-listed company stated, “In accordance with Regulation 42 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Company has officially fixed Monday, October 23 as the Record Date. This date is crucial for determining the eligibility of shareholders who will receive the Sub-division/Split of every 1 (one) equity share with a nominal/face value of Rs. 10/- (rupees ten only) each into 5 (Five) equity shares with a nominal/face value of Rs. 2/- (rupees Two only) each.”
In the past month, this remarkable stock has surged from around ₹280 to reach ₹365 per share, delivering a substantial 30 percent increase during this period. Over the last six months, this small-cap stock has impressively rewarded long-term investors with a 120 percent return. Furthermore, in the past year, the small-cap stock has exhibited remarkable growth, climbing from approximately ₹56 to ₹365 per share, representing an extraordinary 550 percent rise within that timeframe.
It’s noteworthy that this particular multibagger stock is exclusively available for trading on NSE, boasting a market capitalization of around ₹387 crore. During the most recent twenty trading sessions, the stock has seen an average trade volume of 15,920, indicating its classification as a low float stock. This characteristic may result in price fluctuations triggered by relatively modest trading volumes. Notably, the stock’s 52-week high stands at ₹399.80 per share, while its 52-week low is recorded at ₹54.90 per share.