Multibagger textile stock hit upper circuit & 52-week high; Board likely to announce bonus shares
The company has a market cap of Rs 101 crore and stock gave multibagger returns of 566 per cent from its 52-week low of Rs 32.02 per share.
Padam Cotton Yarns Ltd informed that a meeting of the Board of Directors of the Company is scheduled to be held on Wednesday, November 27, 2024, to inter-alia consider and approve:
- The proposal for issue of bonus Shares to the equity shareholders of the Company, subject to shareholders’ approval.
- To adopt new set of Memorandum of Association.
- To adopt a new set of Articles of Association for the company.
- To Finalize time, date and venue to convene the Extra Ordinary General Meeting of the Company.
- To Finalize the dates of Book Closure, Record Rate/ Cut-off Date and E- voting related matter for the purpose of forthcoming Extra Ordinary General Meeting.
- To Appoint of Mr. Ashish Goyal, Proprietor of M/s A. Goyal & Associates and Company Secretary in Whole-time Practice as a Scrutinizer ascertain Voting process of Extra Ordinary General Meeting of the company.
- Any other matter with the permission of chair.
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Padam Cotton Yarns Ltd., established in 1994, is a company specializing in the production of cotton yarn and consulting services. Their primary product is Tow Dyed, Bulked Acrylic Yarn, manufactured using advanced Tow-based technology sourced from Japan Exlan. Beyond yarn production, the company offers valuable consultation services to the textile industry and engages in wholesale trading of agricultural pumping sets and implements.
On Tuesday, shares of Padam Cotton Yarns Ltd hit a 2 per cent to Rs 213.30 per share from its previous closing of Rs 209.19 per share. The stock also made a new 52-week high of Rs 213.30 per share while its 52-week low is Rs 32.02 per share. The company has a market cap of Rs 101 crore and stock gave multibagger returns of 566 per cent from its 52-week low of Rs 32.02 per share. Investors should keep an eye on this textile stock.
Disclaimer: The article is for informational purposes only and not investment advice.