Don't miss action in this stock that has announced bonus shares!

he shares of this company are trading at a PE multiple of 12.92 and an ROE of 6.74, indicating strong managerial performance.

The shares of Gloster Ltd were trading today at Rs 1,799.35 apiece, up by 3.31 per cent from the previous close of Rs 1,744.35. The corporation verified that the record date for the issuance of bonus shares is December 17, 2022, and that bonus shares will be issued to equity shareholders in a ratio of 1:1.

Gloster Ltd, incorporated in 1992, is a Small-Cap company having a market cap of Rs 954 crore. The Jute division of Fort Gloster Industries Ltd was demerged into a separate company called Gloster Jute Mills Ltd which was then renamed Gloster Ltd. The principal business of the company is manufacturing and exporting all kinds of jute and jute-allied products. 

According to annual consolidated financial figures, the net sales for FY23 increased 48.83 per cent compared to the last year. Operating profit for FY23 increased to 43.6 per cent when compared to FY22. In comparison to FY22, when the net profit was only Rs 41.27 crore, it dramatically increased to Rs 65.28 crore or 58.18 per cent, in FY23.  

Gloster Ltd is currently trading at a PE multiple of 12.92 and an ROE of 6.74 per cent, indicating strong managerial performance. The 52-week high for the company is Rs 2,024.80 and the 52-week low is Rs 850. A recent bonus issue was announced at a 1:1 ratio, which means that shareholders will receive one bonus share for each share held by the existing shareholder as of the record date. 

Investors must keep an eye on this stock.