6:10 bonus shares & 1:10 stock split announced; Multibagger garments manufacturer stock with 7,000 per cent returns; don’t miss action!
The stock gave multibagger returns of 335 per cent in just 1 year, 5,100 per cent in 3 years and a whopping 7,000 per cent in 5 years.
Today, shares of Lorenzini Apparels Ltd gained 2 per cent to Rs 391.45 per share from its previous closing of Rs 383.75. At the closing bell, shares of the company were trading at Rs 377 per share, down 1.76 per cent.
Lorenzini Apparels Ltd., established in 2007, designs, manufactures, and markets ready-made garments for men and women through their own "Monteil" brand, offering formal, semi-formal, and casual wear, both in their exclusive stores and online, while also utilizing third-party contractors for some garment production. The company has a market cap of Rs 382 crore.
Lorenzini Apparels Ltd. is rewarding shareholders with a bonus issue and stock split. They will distribute 6 new bonus shares (face value Rs 1 each) for every 11 existing shares (face value Rs 10 each) held by shareholders on the record date, effectively increasing their total share quantity. Additionally, the company will subdivide the face value of each existing share from Rs 10 to Rs 1, making them more affordable.
The record date for both these actions is set for Thursday, March 28th, 2024. To increase in authorized share capital of the company from Rs 11,70,00,000 to Rs. 17,30,00,000 and consequent alteration in the capital clause of the memorandum of association of the company.
According to the Quarterly Results, the net sales increased by 4.3 per cent to Rs 13 crore and net profit skyrocketed by 1,294 per cent to Rs 2.37 crore in Q3FY24 over Q3FY23. The net sales increased by 79 per cent to Rs 43.76 crore and net profit skyrocketed by 2,000 per cent to Rs 2.52 crore in FY23 over FY22.
The stock gave multibagger returns of 335 per cent in just 1 year, 5,100 per cent in 3 years and a whopping 7,000 per cent in 5 years. Investors should keep an eye on this micro-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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