Back-to-Back Lower Circuits in This Multibagger Textile Stock; Board Likely to Announce Stock Split

The stock gave multibagger returns of 200 per cent on YTD basis, 340 per cent in 1 year and a whopping 1,000 per cent in 5 years.

Mohite Industries Ltd informed that a meeting of Board of Directors of the company will be held on Thursday, November 14, 2024, at 3.00 p. m. at the Registered Office of the Company, inter alia, to consider following business:

1. To consider and to take on records Un-Audited Financial Results (both Standalone and Consolidated) of the Company for the period ended on September 30, 2024.
2. To consider a proposal for sub-division/stock split of the equity shares of the company having a face value of Rs 10 each, subject to such regulatory/statutory approvals as may be required, including the approval of the shareholders of the company.
3. Any other agenda with the permission of chair.

On Thursday, shares of Mohite Industries Ltd hit a 5 per cent lower circuit to Rs 120.65 per share from its previous closing of Rs 126.95 per share. The stock’s 52-week high is Rs 163.45 per share and its 52-week low is Rs 26.08 per share. The stock has been hitting back-to-back lower circuits.

Mohite Industries Ltd., a textile company founded in 1990, produces high-quality cotton yarn and gray knitted fabric. The company's state-of-the-art facility in Vadgaon, near Kolhapur, uses advanced technology to meet global standards. With a strong focus on innovation and customer satisfaction, Mohite Industries Ltd. is committed to delivering premium products and services.

The company has a market cap of Rs 242.50 crore with a PE of 51.2x, an ROE of 3 per cent and an ROCE of 6 per cent. The stock gave multibagger returns of 200 per cent on YTD basis, 340 per cent in 1 year and a whopping 1,000 per cent in 5 years.

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