Back-to-back upper circuit: This multibagger would have turned your Rs 1 lakh into Rs 15 lakhs in less than 3 months!

Shares have provided investors with returns of over tenfold in the past ten weeks.

Prior to the Bonus Shares announcement,  Alstone Textiles had been continuously making new 52-week highs and had closed at 223 on November 10. In the last 25 trading days, the company's stock has consistently reached a 5-percent upper circuit. As a result, this company gave a multibagger return of 200 per cent to its investors in just 1 month. Furthermore, in just 2.5 months, the shares of Alstone Textile rose by astonishing 1,395 per cent. On August 24, 2022, Alstone Textiles was first listed on the Bombay stock exchange. The price of its shares was barely Rs 15.75 at the time. Since then, its shares have provided investors with returns of over tenfold in the past ten weeks.  

Alstone Textiles has announced a huge bonus of 1:9 for its shareholders, followed by a 1:10 split. This means that for every share with a face value of Rs 10 that a qualified investor holds, they will receive 10 equity shares having a face value of Rs 1. To top it all off, each share will also receive 9 bonus shares, each with a face value of Rs 1, following the split. December 3, 2022 has been chosen as the record date. The suspected reason behind the bonus seems to be the outstanding Quarterly Results of the company, clocking Rs 8 crores in the recent quarter. The company’s next quarter is also expected to be as good as its current quarter, due to the ongoing business of the company in the foreign and domestic textiles market.

Alstone Textiles is indulged in procurement, processing and distribution of pre-processed textiles. The company aims for clients in the fast-moving fashion industry who deal in bulk. Alstone Textiles also exports pre-processed textile to European and American countries.