Multi-bagger in just 1 month; Board is likely to announce bonus share soon!

Shares of this company are trading at a PE multiple of 11.4 and an ROE of 15.4 per cent, reflecting strong management performance.

On Thursday, shares of Globe Commercials Ltd shares surged 5 per cent to reach the upper price band of Rs 32.65 per share. The stock gave multi-bagger returns of 115.51 per cent in just 1 month.  

The Company, in its latest press release, has revealed that the company's Board of Directors meeting will be held on Wednesday, December 14, 2022, to consider the following proposals: a.) Issue of bonus shares for approval of shareholders at the ensuing Annual General Meeting. b.) To approve the deadline date as December 22, 2022, as a record date to verify the rights of shareholders to issue bonus shares.   

Globe Commercials Ltd provides commodity trading services. The company focuses on buying and selling sanitary wares, cotton, oils, rubbers, seeds, vegetable products and other commodities as well as offers financing, management consultancy and real estate services. According to quarterly and annual financial statements company reports outstanding numbers.  

The company has delivered good profit growth of 61 per cent CAGR over the last 3 years. Stocks of this company are trading at a PE multiple of 11.4 and an ROE of 15.4 per cent, reflecting strong management performance. Investors should keep their eye on it.