11 Consecutive Lower Circuits in This Multibagger Textile Stock Under Rs 100; Board Announces Stock Split From Rs 10 to Re 1
The stock gave multibagger returns of 121 per cent on YTD basis, 190 per cent in 1 year and a whopping 700 per cent in 5 years.
Mohite Industries Ltd. has announced a sub-division or split of its equity shares. This means that each existing share with a face value of Rs 10 will be divided into 10 new shares, each with a face value of Re 1. The record date for this sub-division, which is the cut-off date to determine shareholders eligible for the split, will be announced by the Board of Directors after obtaining shareholder approval and will be communicated to the stock exchanges in due course.
On Monday, shares of Mohite Industries Ltd hit a 5 per cent lower circuit to Rs 88.85 per share from its previous closing of Rs 93.50 per share. The stock’s 52-week high is Rs 163.45 per share and its 52-week low is Rs 27.06 per share. The stock has been hitting back-to-back lower circuits (11 consecutive lower circuits).
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Mohite Industries Ltd., a textile company founded in 1990, produces high-quality cotton yarn and gray knitted fabric. The company's state-of-the-art facility in Vadgaon, near Kolhapur, uses advanced technology to meet global standards. With a strong focus on innovation and customer satisfaction, Mohite Industries Ltd. is committed to delivering premium products and services.
The company has a market cap of Rs 178.60 crore with a PE of 51.2x, an ROE of 3 per cent and an ROCE of 6 per cent. The stock gave multibagger returns of 121 per cent on YTD basis, 190 per cent in 1 year and a whopping 700 per cent in 5 years.
Disclaimer: The article is for informational purposes only and not investment advice.