Multibagger stock hits back-to-back to upper circuit; Board announces bonus shares for the first time ever!

The stock gave multibagger returns of 180 per cent in just 1 year whereas BSE Sensex Index is up by 11.86 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 as may be determined by the board of director(s), subject to the approval of the shareholders in AGM.

On Wednesday, shares of Advance Lifestyles Ltd jumped 5 per cent to Rs 103.03 per share from its previous closing of Rs 98.13. 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 4.92 times on BSE. In the recent trading sessions, the stock is hitting back-to-back upper circuits.

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 32.07 crore with a 5-year stock price CAGR of 32 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 is trading at 1.04 times its book value. The stock gave multibagger returns of 180 per cent in just 1 year whereas BSE Sensex Index is up by 11.86 per cent. Investors should keep an eye on this micro-cap stock.

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