Double Dhamaka! Board Announced 1:1 Bonus Share & 2:1 Stock Split: DOMS’s Peer Company’s Stock To Keep Under The Radar
The shares of the company saw a spurt in volume by more than 2.07 times and stock is up by 46.5 per cent from its 52-week low of Rs 463.50 per share.
On Wednesday, DOMS’s peer company’s stock plunged 0.22 per cent to Rs 648.75 per share from its previous closing of Rs 650.20 per share with an intraday high of Rs 670 and an intraday low of Rs 639.10. The shares of the company saw a spurt in volume by more than 2.07 times and stock is up by 46.5 per cent from its 52-week low of Rs 463.50 per share.
The stock name is LINC Ltd.
The Board of Directors of LINC Ltd. has announced a series of capital restructuring initiatives, subject to shareholder approval. These include an increase in authorized share capital by creating additional equity shares, a sub-division of existing equity shares from Rs.10 to Rs.5, and a bonus issue of one new equity share for every existing equity share. The record dates for the sub-division and bonus issue will be announced later.
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.
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The company, with a market capitalization of Rs 965 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.