Stock below Rs 5: Do you own this penny stock that has announced stock split?

The company recently declared December quarter (Q3) results wherein net profit skyrocketed 366.67 per cent compared to the same quarter last year.

Today, shares of Vaxtex Cotfab Ltd surged 2.04 per cent to Rs 5 per share from its previous closing of Rs 4.90 per share. The intraday high and low were 5.05 apiece and 4.75 apiece respectively.  

In a recent press release, the company announced a stock split. The Company has fixed Wednesday, February 15, 2023, as the Record Date, for the purpose of ascertaining the eligibility of shareholders entitled to sub-division/ split of one equity share of the company having a face value of Rs 2 each into two equity shares having face value of Rs 1 each.  

Vaxtex Cotfab Ltd is engaged in the business of trading and processing fabrics. The company is engaged in the processing (dyeing and finishing) of grey fabrics for shirting, suiting and other accessories and also does outsourcing for other fabric/garment companies.    

The company reported excellent results in both quarterly and annual financial statements. The company recently declared December quarter (Q3) results wherein net profit skyrocketed 366.67 per cent compared to the same quarter last year. In comparison to FY21, the net profit soared 136.75 per cent and the net profit skyrocketed 727.78 per cent in FY22.   

The stock has a 52-week high of Rs 37.35 and a 52-week low of Rs 4.55. Investors should keep an eye on this stock.