Multibagger stock: Demerger’s After the announcement, this stock hit the upper circuit, now what should be the investment strategy.

Multibagger stock: Demerger’s After the announcement, this stock hit the upper circuit, now what should be the investment strategy.

finance5100-min
finance5100-min

The shares of Saregama have gained 18.7 times during the last 5 years. While maintaining its Hold rating in this stock, ICICI Security has given a target of Rs 4890 for this.

There will be no cash transaction in this demerger and under the demerger scheme, the existing shareholders of Saregama will get 2 fully paid-up shares of the face value of Rs.

In today’s trading session on the BSE in the shares of Saregama India, an upper circuit of 5 percent was seen at Rs 4,828. The company has announced that it is going to demerge its entire distribution business. After this news, there has been a strong jump in this stock. Under this demerger, all physical products of the company including Carvaan on digital marketplaces as well as non-core assets of the company will be demerged.

There will be no cash transaction in this demerger and under the demerger scheme, the existing shareholders of Saregama will get 2 fully paid-up shares of the face value of Rs.10 each of the demerger company (Digidrive Distributors Ltd) per 1 share of the demerger.

ICICI Security has said in this demerger plan that only the digital distribution arm of the company will be separated in this demerger plan. The business of Carvaan will remain with Saregama as before. As far as we understand, the company’s distribution arm maintains a non-exclusive basis for selling on Carva on the e-commerce platform which will continue to operate as before.

Let us inform you that during the last 5 years, the shares of Saregama have increased by 18.7 times. While maintaining its Hold rating in this stock, ICICI Security has given a target of Rs 4890 for it. Significantly, the shares of Saregama have gained 202 percent in a period of one year. However, it has broken 11 percent so far in 2022.

At present, around 3:06 pm, the share of Saregama is seen locked in the upper circuit at Rs 4827.25 with an increase of about Rs 230 or 5 percent on NSE. Its 52 weeks high is Rs 5,505.85 while its 52 weeks low is Rs 1,513.95. The volume of this stock is around 6,600 and its market cap is Rs 9,316 crore.

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