1:1 Bonus Share Announced & 695 Per Cent Returns: Multibagger Textile Stock Hit Upper Circuit & 52-Week High
The company has a market cap of Rs 120.45 crore and the stock gave multibagger returns of 695 per cent from its 52-week low of Rs 32.02 per share.
Padam Cotton Yarns Ltd. has announced a 1:1 bonus issue, meaning shareholders will receive one additional equity share for every one share they currently hold. This will double the company's outstanding shares from 38,73,000 to 77,46,000 while maintaining the same total equity value of Rs 7,74,60,000. The bonus shares are expected to be credited to shareholders' demat accounts by January 26, 2025, subject to shareholder and regulatory approvals.
Padam Cotton Yarns Ltd., established in 1994, is a company specializing in the production of cotton yarn and consulting services. Their primary product is Tow Dyed, Bulked Acrylic Yarn, manufactured using advanced Tow-based technology sourced from Japan Exlan. Beyond yarn production, the company offers valuable consultation services to the textile industry and engages in wholesale trading of agricultural pumping sets and implements.
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On Tuesday, shares of Padam Cotton Yarns Ltd hit a 2 per cent to Rs 254.70 per share from its previous closing of Rs 249.75 per share. The stock also made a new 52-week high of Rs 254.70 per share while its 52-week low is Rs 32.02 per share. The company has a market cap of Rs 120.45 crore and the stock gave multibagger returns of 695 per cent from its 52-week low of Rs 32.02 per share. Investors should keep an eye on this textile stock.
Disclaimer: The article is for informational purposes only and not investment advice.