Multibagger penny stock under Rs 100 in focus as Board announces 7:10 bonus shares; Check record date inside!
The stock gave multibagger returns of 174 per cent from its 52-week low of Rs 34.25 per share and a whopping 1,500 per cent in 5 years.
Indo Cotspin Ltd informed that the Board of Directors of the company approved the issuance of bonus shares in the ratio of 7:10 (i.e., 7 new equity shares of Rs 10 each for every 10 equity shares of Rs 10 each held as of record date. The Board fixed the record date for bonus shares as Friday, September 06, 2024.
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 per cent of their total material usage.
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On Wednesday, shares of Indo Cotspin Ltd gained 0.78 per cent to Rs 93.93 per share from its previous closing of Rs 93.20 per share with an intraday high of Rs 95.06 and an intraday low of Rs 93.20. The stock’s 52-week high is Rs 100.24 and its 52-week low is Rs 34.25.
The company has a market cap of Rs 39.46 crore. The stock gave multibagger returns of 174 per cent from its 52-week low of Rs 34.25 per share and a whopping 1,500 per cent in 5 years. 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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