Bonus issue: Shares of this multibagger company reached a new 52-week high!

in the pre-open market itself, the stock reached a new 52-week high of Rs 47.95 per share.

Globe Commercials Ltd. stock rose 5 per cent on Tuesday, reaching the upper price band of Rs. 47.95 a share. In just 6 months, the stock generated multi-bagger returns of 252.57 per cent. Furthermore, in the pre-open market itself, the stock reached a new 52-week high of Rs 47.95 per share. The company announced bonus shares that will be issued to equity shareholders in a ratio of 1:1.

The corporation confirmed that the revised record date for the issuance of bonus shares is January 7, 2022, implying that shareholders will receive one bonus share for each share held by the existing shareholder as of the record date.

Globe Commercials Ltd provides commodity trading services. The company focuses on buying and selling sanitary wares, cotton, oils, rubbers, seeds, vegetable products and other commodities as well as offers financing, management consultancy and real estate services. According to quarterly and annual financial statements, the company reports outstanding numbers.

Over the course of a year, the company's profits increased by 70 per cent CAGR. This company's stock is trading at a PE multiple of 16.77 and an ROE of 15.4 percent, indicating strong management performance. Investors should keep this stock under their watchlist.