Multibagger stock under Rs 70: This cotton ginning company has bagged a new work order!

Shares of the company jumped more than 100 per cent in just six months.

On February 14, 2023, Axita Cotton Limited informed in the exchange filing that it has received a work order amounting worth USD 37,39,035.52. The company has got the order for supplying Indian raw cotton to Bangladesh.

Axita Cotton is engaged in the business of trading kapas, cotton bales and cotton seeds. It is also doing ginning and pressing of kapas on job work basis. The company is also producing cotton bales and cotton seeds. The company is producing mainly two varieties of cotton bales namely Shankar-6 and MCU-5/MECH.

The production facility of the company is situated at Kadi in the Mahesana District of Gujarat state which is close to the rich cotton-growing areas of Maharashtra, Saurashtra and other regions of Gujarat. The products are sold majorly in the state of Gujarat, Rajasthan, Maharashtra and Madhya Pradesh. 

Today, the stock opened at Rs 66.35, with a high and low of Rs 69.05 and Rs 64.55. The stock closed trading at Rs 66.95, up by 2.21 per cent.  

In the last 6 months, the shares of the company have given more than 100 per cent returns and on a YTD basis, the stock has given about 35 per cent returns.

The stock has a 52-week high of Rs 69.05 and a 52-week low of Rs 9.80. The company has a ROCE of 58.7 per cent and an ROE of 49.9n per cent with a market capitalisation of Rs 1316 crore.