Multibagger stock under Rs 70: This cotton ginning company has bagged two big work orders!

Shares of the company jumped more than 70 per cent in just six months.

On March 13, 2023, Axita Cotton Limited informed in the exchange filing that the Company has received work orders from Taraspinning Mills Limited, Bangladesh and Khadiza Sadek Spinning Mills Limited, Bangladesh for Indian Raw Cotton for US $ 2716091.84.  

It also received another order on March 11, 2023, from Bangladesh for Indian raw cotton worth US $ 2716091.84. 

Axita Cotton Limited has delivered multibagger returns to its shareholders in last one year. During this period, the company’s share price jumped from Rs 18.22 on June 21, 2022, to Rs 54.75 on March 14, 2023, an increase of about 200 per cent in one year holding period. 

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. 

Today, the stock opened at Rs 56.51, with a high and low of Rs 57.86 and Rs 54.60. The stock is currently trading at Rs 54.48, down by 0.80 per cent.   

The stock has a 52-week high of Rs 69.60 and a 52-week low of Rs 11.67. The company has a ROCE of 58.7 per cent and an ROE of 49.9 per cent with a market capitalisation of Rs 1091 crore.