DOMS’s Peer Company’s Stock Jumps Over 9 Per Cent With Heavy Volume As Board Is Likely to Announce Bonus Shares & Stock Split
The shares of the company saw a spurt in volume by more than 3 times and stock is up by 51.2 per cent from its 52-week low of Rs 463.50 per share.
On Thursday, one of the Top Gainers on BSE, DOMS’s peer company’s stock jumps over 9 per cent to Rs 700.85 per share from its previous closing of Rs 640.55 per share. The shares of the company saw a spurt in volume by more than 3 times and stock is up by 51.2 per cent from its 52-week low of Rs 463.50 per share.
The stock name is LINC Ltd
The Board of Directors will meet on October 29, 2024, to consider and approve the Un-Audited Financial Results (Standalone & Consolidated) for the quarter/half year ended September 30, 2024. Additionally, the Board will discuss proposals for the sub-division/ stock split of existing equity shares with a face value of Rs 10 each and the subsequent issuance of bonus shares to equity shareholders in a ratio to be determined by the Board through the capitalization of reserves. Both proposals are subject to shareholder approval.
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Linc Ltd., established in 1976, is India's leading and longest-standing manufacturer of writing instruments and stationery. Their diverse product range includes ball pens, gel pens, roller pens, retractable ball pens, dark pencils and other stationery items. In addition to writing instruments, Linc offers a variety of products such as adhesives, calculators, desktop supplies, pencils, school stationery, stationery organizers and marker pens. With their commitment to quality and innovation, Linc has become a trusted name in the Indian stationery market.
The company, with a market capitalization exceeding Rs 1,000 crore, has exhibited robust profit growth, achieving a CAGR of 47.2 per cent over the past five years. Demonstrating a commitment to shareholder value, the company has maintained a consistent dividend payout of 24.9 per cent. The company's shares are currently valued at a PE ratio of 28, reflecting its strong financial performance. Furthermore, the company's ROE of 18 per cent and ROCE of 24 per cent underscore its efficient capital utilization and profitability.
Disclaimer: The article is for informational purposes only and not investment advice.