Multi-bagger in just 1 month: Don't miss action in this stock that has announced bonus shares!

Shares of this company are trading at a PE multiple of 11.4 and an ROE of 15.4 per cent, reflecting strong management performance.

On Thursday, shares of Globe Commercials Ltd shares surged 5 per cent to reach the upper price band of Rs 41.50 per share. The stock gave multi-bagger returns of 135.80 per cent in just 1 month. Furthermore, the stock reached a new 52-week high of Rs 41.50 per share. The company announced bonus shares that will be issued to equity shareholders in a ratio of 1:1. 

The corporation verified that the record date for the issuance of bonus shares is December 22, 2022, which means 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.

The company has delivered good profit growth of 50 per cent CAGR over a year. Stocks of this company are trading at a PE multiple of 11.4 and an ROE of 15.4 per cent, reflecting strong management performance. Investors should keep their eye on it.