650 Per Cent Returns: Multibagger Textile Stock Hit Upper Circuit & 52-Week High As Board Announces 1:1 Bonus Share
The company has a market cap of Rs 113.54 crore and the stock gave multibagger returns of 650 per cent from its 52-week low of Rs 32.02 per share.
Padam Cotton Yarns Ltd. has announced a 1:1 bonus issue, meaning shareholders will receive one additional equity share for every one share they currently hold. This will double the company's outstanding shares from 3,873,000 to 7,746,000 while maintaining the same total equity value of Rs 7,74,60,000. The bonus shares are expected to be credited to shareholders' demat accounts by January 26, 2025, subject to shareholder and regulatory approvals.
Padam Cotton Yarns Ltd., established in 1994, is a company specializing in the production of cotton yarn and consulting services. Their primary product is Tow Dyed, Bulked Acrylic Yarn, manufactured using advanced Tow-based technology sourced from Japan Exlan. Beyond yarn production, the company offers valuable consultation services to the textile industry and engages in wholesale trading of agricultural pumping sets and implements.
DSIJ’s ‘Micro Marvel' service recommends micro-cap stocks with the potential to grow multifold in long run. If this interests you, do download the service details here.
On Thursday, shares of Padam Cotton Yarns Ltd hit a 2 per cent to Rs 240.10 per share from its previous closing of Rs 235.40 per share. The stock also made a new 52-week high of Rs 240.10 per share while its 52-week low is Rs 32.02 per share. The company has a market cap of Rs 113.54 crore and the stock gave multibagger returns of 650 per cent from its 52-week low of Rs 32.02 per share. Investors should keep an eye on this textile stock.
Disclaimer: The article is for informational purposes only and not investment advice.