1:1 bonus share next month: Penny stock under Rs 10 in green as company has developed and launched its direct business in region of Chhattisgarh & Central India
The stock is up by 93 per cent from its 52-week low of Rs 3.78 per share and gave multibagger returns of 190 per cent in 5 years.
Tirupur-based Garment Mantra Lifestyle Ltd has expanded its operations into Chhattisgarh and Central India. The company, formerly known as Junction Fabrics & Apparels Ltd, has introduced a new line of apparel specifically designed for the domestic market in this region. Targeting wholesalers and retailers from smaller towns, the company is offering direct benefit schemes to attract customers. These products are tailored to the preferences and trends of the local market and are expected to generate year-round demand, given the non-seasonal nature of the market. This expansion will streamline the supply chain for the entire Central India region.
The Board of Directors of the company also announced bonus shares in the ratio 1:1 i.e., 1 new Bonus equity share of Re 1 each fully paid up for every 1 existing equity share of Re 1 each fully paid up. The Board fixed the record date as Tuesday, September 03, 2024.
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About Garment Mantra Lifestyle Ltd
Garment Mantra is a company focused on fulfilling the fashion and lifestyle aspirations of the mass Indian population. The promoters of the company have extensive experience in the textile industry for over 3 decades. Garment Mantra has 3 business divisions. Firstly, Garment Mantra is engaged in the business of garment manufacturing and selling both knitted fabrics as well as knitted garments.
On Monday, shares of Garment Mantra Lifestyle Ltd gained 3.25 per cent to Rs 7.30 per share from its previous closing of Rs 7.07. The company has a market cap of Rs 72.7 crore. The promoters of the company sold a 19.97 per cent stake and decreased their stake to a 30.18 per cent stake in the company in June 2024 compared to June 2023 while the public shareholders own a 69.82 per cent stake as of June 2024. The stock is up by 93 per cent from its 52-week low of Rs 3.78 per share and gave multibagger returns of 190 per cent in 5 years.
Disclaimer: The article is for informational purposes only and not investment advice.
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