Small-cap stock below ₹50: Banganga Paper Industries share price traded in the green in the morning session on Tuesday despite weak stock market sentiments. The small-cap gained nearly 1% in the early morning session, touching an intraday high of ₹47.39 apiece.
However, the stock soon pared gains and slipped 1.51% to ₹46.25 as the stock market sell-off gathered pace. It must be noted that there were no fresh fundamental triggers which led to the volatility in the small-cap stock today.
Banganga Paper Industries: Recent Developments
In an exchange filing dated 16 January, the company said that shareholders at an Extraordinary General Meeting held on 14 January approved an increase in authorised share capital, a change in the company’s name, a shift in its registered office, amendments to the object clause, and the appointment of a new auditor.
Increase in authorised share capital
The members approved an increase in Authorised Share Capital of the company from ₹12,00,00,000 divided into 12,00,00,00 equity shares of Re.1 each toRs 36,00,00,000 divided into 36,00,00,00 equity shares of Re. 1 each.
Shifting of the registered office of the company from Maharashtra to Meghalaya
Subject to the approvals of the Central Government and/or any authorities as may be prescribed from time to time, the Registered Office of the company will be shifted from the State of Maharashtra to the State of Meghalaya. The State of Meghalaya comes within the jurisdiction of the Registrar of Companies, North Eastern Region. As a part of the complete arrangement, the registered office of the company will be relocated from Nashik, Maharashtra, to Shillong, Meghalaya.
Change in the name of the company
The name of the Company has been changed from “BANGANGA PAPER INDUSTRIES LIMITED” to “ASGARD ALCOBEV LIMITED”. The name clause in the Memorandum of Association is to be substituted as under the name of the company is ASGARD ALCOBEV LIMITED.
Change in the object clause of the company
The member has approved an amendment in the object clause of the company to carry on the business of manufacturing, distilling, brewing, fermenting, bottling, blending, processing, packaging, marketing, trading, importing, exporting, and dealing in all kinds of alcoholic and non-alcoholic beverages.
Appointed Batliboi & Purohit as an auditor
The members of the company have approved the appointment of BATLIBOI & PUROHIT as an auditor.
Banganga Paper Industries share price trend
The small-cap has remained under pressure in the near-term, falling 8% in the past five sessions and 16% in a month.
Zooming out further, the small-cap stock has remained in the negative territory, shedding 40% in six months and 46% in the last year. However, Banganga Paper shares have proven to be a multibagger stock by soaring over 449% in the last five years.
Banganga Paper Industries share price is listed only on the BSE. The small-cap stock hit a 52-week high of ₹90.27 on March 28, 2025, and a 52-week low of ₹38 on November 6, 2025.
Disclaimer: This story is for educational purposes only. Please consult with an investment advisor before making any investment decisions.
