Back-to-back upper circuits & 52-week highs in this multibagger micro-cap stock with 266 per cent returns; Board announced bonus issue of shares!
The stock gave multibagger returns of 266 per cent in just 1 year whereas BSE Sensex Index is up by 15.38 per cent.
On Tuesday, shares of Advance Lifestyles Ltd jumped 2 per cent to Rs 121.63 per share from its previous closing of Rs 119.25. The stock also made a new 52-week high of Rs 121.63 per share. The stock has been hitting upper circuits and 52-week highs in recent trading sessions
Advance Lifestyles Ltd informed that a meeting of the Board of Directors of the company approved a bonus issue of equity shares for the first time ever in the ratio of 1:1 [i.e., 1 (One) fully paid-up equity share for every 1 (One) equity share held to the shareholders of the company as on record date as may be determined by the board of director(s), subject to the approval of the shareholders in AGM.
On September 25, 2023, the company informed that the Annual General Meeting (AGM) of Advance Lifestyles Limited is scheduled to be held on Tuesday, October 03, 2023, inter alia to fix the record date for the bonus issue of shares.
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Incorporated in 1988, Advance Lifestyles Limited (previously known as The Ahmedabad Advanced Mills Ltd.) is in the business of textile mills, trading of cloth and property construction. The company has a market cap of Rs 37.86 crore with a 5-year stock price CAGR of 36 per cent. The company has a high level of promoter ownership, with the promoters holding 75 per cent of the shares. The public owns the remaining 25 per cent of the shares.
The stock gave multibagger returns of 266 per cent in just 1 year whereas BSE Sensex Index is up by 15.38 per cent. 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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