Multibagger small cap stock fixes record date for 1:2 bonus issue
2 min read . Updated: 04 Jun 2022, 06:19 PM IST
Premium- The Board of Directors of Xpro India has proposed bonus equity shares in a 1:2 ratio.
Xpro India Ltd is a small-cap company with a market capitalization of ₹1,317.80 crore that is focused on the polymer processing sector. The BIRLA Group is a multi-divisional, multi-locational corporation that handles its polymers business through the Biax and Coex divisions.
The company's Board of Directors has proposed bonus equity shares in a 1:2 ratio. Bonus shares will be issued in the proportion of 1 equity share of ₹10/- for every 2 existing fully paid-up equity shares of ₹10/- owned by the Company's shareholders as of the record date. The corporation has set Monday, July 4, 2022 as the record date for this purpose.
The company has said in the BSE exchange filing that “Further to our letter dated May 25, 2022 intimating, inter alia, about the Record Date for the purpose of proposed Bonus lssue, please be informed that the Record Date for the purpose of determining eligibility for the Bonus has been fixed by the Board of Directors as Monday, July 4, 2022 and not June 17 , 2022 as communicated earlier."
Xpro India's stock has risen from ₹143.15 as of June 4, 2021 to ₹1,106.80 on June 3, 2022 at 3:30 p.m. IST, representing a multibagger gain of 673.17 per cent on the BSE, surpassing the Sensex by 674 per cent. The stock has gained 18.08 per cent year-to-date (YTD) so far in 2022, compared to a 5.77 per cent YTD decline in the Sensex. Xpro India's stock has risen 17.98 per cent in the previous six months, compared to Sensex's 1.72 per cent decline.
The stock has dropped 8.22 per cent in the last month, compared to a 0.18 per cent gain in the Sensex. In the previous five trading days, the stock has risen 5.41 per cent, outpacing Sensex's advance of 0.01%. The stock has been gaining for the last 2 days and has risen by over 10% in the period. In Friday’s trading session the stock locked in the upper circuit by 5.00% at ₹1,106.80 level, outperforming the sector by over 5%.
During the last trade on Friday, the stock opened with a gain of 4.63% and touched an intraday high of ₹1106.8 (5%). On the BSE the stock has touched its 52-week high of ₹1,674.00 on 25/03/2022 and touched a 52-week low of ₹126.70 on 10/06/2021 which indicates that at the current market price the stock is trading at a discount of 33.88% from its 5w-week high. Based on the last traded price, the stock is now stronger than the 5 days, 20 days and 200-day moving averages but weaker than the 50 days and 100-day moving averages.
