Multibagger micro-cap stock with 230 per cent returns; Board announced bonus shares!

The stock gave multibagger returns of 230 per cent in just 1 year whereas BSE Sensex Index is up by 12.33 per cent.

Advance Lifestyles Ltd informed that a meeting of the Board of Directors of the company approved a bonus issue of equity shares for the first time ever 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. The company fixed the record date for the bonus issue of shares as Friday, October 13, 2023.

After rising nearly 230 per cent over the period of 12 months, shares of Advance Lifecare Ltd are undergoing a correction and have hit the lower circuit for the sixth straight day. Today, shares of Advance Lifecare Ltd plunged 2 per cent to Rs 110 per share from its previous closing of Rs 112.20. The 52-week high of the stock is Rs 121.70 and the 52-week low of Rs 31.50.

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 34.24 crore with a 5-year stock price CAGR of 35 per cent. 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 gave multibagger returns of 230 per cent in just 1 year whereas BSE Sensex Index is up by 12.33 per cent. Investors should keep an eye on this micro-cap stock.

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