Low PE stock below Rs 50: Board announced bonus shares, do you own it?
The stock gave 55 per cent returns in just 6 months.
Swaraj Suitings Limited (NSE Script Code: SWARAJ) informed that The Board of Directors of the company has announced the issuance of bonus equity shares of the company in the proportion of 1 (one) equity share of Rs 10 each for every 1 (one) existing equity share of Rs 10 each. The company fixed the record date as Friday, May 19, 2023.
On Tuesday, shares of Swaraj Suitings Limited surged 5 per cent upper circuit to Rs 61.10 per share from its previous closing of Rs 58.20. The stock has seen heavy buying today with 100 per cent of the quantity delivered. The stock has a 52-week high of Rs 68.50 and a 52-week low of Rs 40.25.
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Swaraj Suiting is presently, primarily engaged in the manufacturing of grey fabric involving cotton and synthetic, trading of yarn, grey fabric and finished fabric and weaving on job work basis.
According to the financials, this Small and Medium Enterprises (SME) company has a market cap of Rs 44 crore. The corporation reported a positive number on the quarterly and annual financial statements.
The stock has a PE of 9.17x whereas the sectoral PE is 20x. The stock gave 55 per cent returns in just 6 months. Investors should keep an eye on this SME stock.