Multibagger penny stock under Rs 100 hit 52-week high as Board likely to announce bonus shares!
The stock gave multibagger returns of over 180 per cent from its 52-week low of Rs 34.25 per share.
Indo Cotspin Ltd informed that the meeting of the Board of Directors of the company is scheduled to be held on Wednesday, August 07, 2024, at the registered office of the company situated at Delhi Milestone 78 K.M, G.T Road, Village Jhattipur Samalkha, Panipat, Haryana-132103 India inter alia, to consider the proposal for issue of bonus shares to the equity shareholders of the company to achieve compliance with the MPS requirements mandated under rules 19(2)(b) and 19A of the SCRR read with regulation 38 of the LODR Regulations.
Additionally, the company announced its participation in Tent Decor Asia 2024, Asia’s premier hospitality, catering, and tent industry exhibition, to be held from August 3 to 6th at the India Expo Mart, Greater Noida. In line with SEBI regulations, we are showcasing our diverse range of non-woven fabrics, carpets, and felts at our strategically located stall (Hall No. 12, Stall 1202) to attract a vast audience of industry professionals and potential clients. The company’s comprehensive marketing efforts aim to maximize brand visibility and generate significant sales. By leveraging this platform, the company anticipate expanding its market reach, strengthening its brand position and driving substantial profit growth through new partnerships and customer acquisitions.
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About the Company
Indo Cotspin Ltd, established in 1995, is a textile manufacturer and trader specializing in non-woven fabrics and tufted carpets. They offer a wide range of products for homes and businesses, including plain, printed, felt, and designer carpets, along with hand-tufted shaggy and woollen options. They also produce doormats and non-woven geotextiles. To ensure high-quality products, they import a small portion of their materials, including latex chemicals, textiles, and stock lots, accounting for roughly 6.7% of their total material usage.
On Friday, shares of Indo Cotspin Ltd gained 1 per cent and hit a fresh 52-week high of Rs 96 per share its previous closing of Rs 95.06 per share. The company has a market cap of Rs 39 crore. The stock gave multibagger returns of over 180 per cent from its 52-week low of Rs 34.25 per share. Investors should keep an eye on this micro-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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