Multibagger in just 1 year; Board announces bonus shares!

The stock gave multibagger returns of 120 per cent in just 1 year whereas BSE Sensex Index is up by 11.58 per cent.

Advance Lifestyles Ltd informed that a meeting of the Board of Directors of the company was held on Friday, September 08, 2023, and recommended the bonus issue of equity shares in the ratio of 1:1 [i.e., 1 (One) fully paid-up equity share for every 1 (One) equity share held to the shareholders of the company as on record date as may be determined by the board of director(s), subject to the approval of the shareholders in AGM.

On Friday, shares of Advance Lifestyles Ltd plunged 4.87 per cent to Rs 73.25 per share from its previous closing of Rs 77. The stock’s 52-week high is Rs 113 and its 52-week low is Rs 31.50. The shares of the company saw a spurt in volume by more than 2.35 times on BSE.

Incorporated in 1988, Advance Lifestyles Limited (previously known as The Ahmedabad Advanced Mills Ltd.) is in the business of textile mills, trading of cloth and property construction. The company has a market cap of Rs 22.80. The company has a high level of promoter ownership, with the promoters holding 75 per cent of the shares. The public owns the remaining 25 per cent of the shares.

The stock is trading at 0.74 times its book value of Rs 99.3 The stock gave multibagger returns of 120 per cent in just 1 year whereas BSE Sensex Index is up by 11.58 per cent. Investors should keep an eye on this micro-cap stock.

Disclaimer: The article is for informational purposes only and not investment advice.