Home / Markets / Stock Markets /  Multibagger stock fixes record date for 9:1 bonus shares and 1:10 stock split

With a market valuation of 383.01 Cr., Alstone Textiles (India) Ltd. is a small-cap company that operates in the consumer discretionary industry. The company is in the business of dealing in textiles, which include cotton, woolen, art silk, natural silk, ready-made apparel, hosiery, synthetic fibre and fabric, and mixed fabrics. The company's Board of Directors has fixed record date to determine the eligibility of the shareholders for the purpose of 9:1 bonus shares and 1:10 stock split.

The company has said in a stock exchange filing that “In terms of Regulation 42 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we would like to inform you that the Company has fixed, 14th December 2022 as the "Record Date", for the purpose of Sub-division of Equity Shares (all the Authorized, Issued, Subscribed and Paid-up Equity Shares of nominal value of Rs. 10/- (Rupees Ten Only) each shall stand sub-divided into 10 (Ten) Equity Shares of nominal value of Re. 1/-(One Rupee) each fully paid-up) and ascertaining the eligibility of shareholders entitled for issuance of Bonus Equity Shares of the Company in the proportion of 9 (Nine) Equity Shares of Re. 1/- each for every 1 (One) existing Equity Share of Re. 1/- each, in accordance with the approval of shareholders in Extra-Ordinary General Meeting to be held on 06th December 2022."

Compared to the net loss of 0.05 Cr in Q2FY22, the firm generated a net profit of 8.26 Cr in Q2FY23. There were no sales recorded in Q2 of the prior year, however, the firm reported net sales of 1.91 Cr in Q2FY23 as opposed to 1.00 Cr in Q1FY23.

The shares of Alstone Textiles (India) closed today at an upper circuit limit of 5.00% at 300.45 apiece level compared to the previous close of 286.15. In trade today the stock recorded a total volume of 433,587 shares compared to the 20-Day average volume of 164,953 shares. In the last 5 years, the stock price has risen from 17.35 to the current market price logging in a multibagger return of 1,903.00%. On a YTD basis, the stock price has risen from 15.75 to the current market price logging in a multibagger return of 1,807.62% so far in 2022. In the last 6 months, the stock has gained 164.60% and in the last 5 trading sessions, the stock has gained 21.52%. The stock had touched a 52-week-low of 15.00 on (24/08/2022), indicating that after making a fresh 52-week-high in today's closing session the stock was seen trading 1,903% above the low. For the quarter ended September or Q2FY23, the company posted a promoter stake of 10.91% and a public stake of 89.08%.

ABOUT THE AUTHOR

Vipul Das

Vipul Das is a Digital Business Content Producer at Livemint. He previously worked for Goodreturns.in (OneIndia News) and has over 5 years of expertise in the finance and business sector. Stocks, mutual funds, personal finance, tax, and banking are among his specialties, and he is a professional in industry research and business reporting. He received his bachelor's degree from Dr. CV Raman University and also have completed Diploma in Journalism and Mass Communication (DJMC).
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