Heavy Buying Stock Under Rs 30: This Smallcap Company to Announce Bonus Issue on August 9, Stock Gains Over 1,100 per cent in Just 3 Years!
The company’s shares have delivered an impressive return of over 1100 per cent to its shareholders in just 3 years.
Founded in 2013, Axita Cotton Limited (ACL) is a manufacturer and exporter of high-quality cotton bales and cotton yarn. The company's promoters began their venture in 2007 with the production and export of cottonseed oil under the partnership firm 'Aditya Oil Industries.' In 2013, ACL was incorporated, focusing primarily on the ginning and pressing of seed cotton (kapas) on a job work basis, as well as the production of cotton bales and cotton seeds. The company also engages in the trading of kapas, cotton bales, and cotton seeds.
The Board of Directors of Axita Cotton Limited will convene on Friday, August 9, 2024, at the company's registered office to consider, recommend, and approve the following items:
- The unaudited financial results (both standalone and consolidated) for the quarter ending June 30, 2024, along with the Limited Review Report.
- The proposal for issuing bonus shares to existing equity shareholders.
- Any other business as permitted by the Chairman.
Axita Cotton Limited shares closed at around Rs 26.46 per share. The company’s current market capitalization stands at Rs 690.28 crore. The stock has delivered a return of around 1140 per cent in the past 3 years.
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As per the Quarterly Results, in Q1 FY24, Axita Cotton Limited recorded a revenue of Rs 221.03 crore. The operating profit for Q1 FY24 stood at Rs 7.24 crore. The net profit for Q1 FY24 was Rs 4.95 crore. Looking at the annual performance, the company generated a revenue of Rs 1102 crore in FY24. The operating profit for FY24 was Rs 27 crore with a net profit of Rs 20 crore.
Investors must keep this Small-Cap stock on their radar.
Disclaimer: The article is for informational purposes only and not investment advice.