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Business News/ Markets / Stock Markets/  Multibagger stock rallies 1229% in 3 years, Board to approve stock split soon
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Multibagger stock rallies 1229% in 3 years, Board to approve stock split soon

With a market worth of ₹31.08 Cr, Indo Cotspin Ltd. is a small-cap business that operates in the consumer discretionary industry.

The shares of Indo Cotspin Ltd closed today at ₹74.00 apiece level, down by 2.89% from the previous close of ₹76.20 apiece on the BSE. (Bloomberg)Premium
The shares of Indo Cotspin Ltd closed today at 74.00 apiece level, down by 2.89% from the previous close of 76.20 apiece on the BSE. (Bloomberg)

With a market worth of 31.08 Cr, Indo Cotspin Ltd. is a small-cap business that operates in the consumer discretionary industry. Non-woven fabrics, non-woven carpets, non-woven felts, non-woven designer carpets, and non-woven geotextiles are among the products that Indo Cotspin exports, manufactures, imports, trades, and supplies. The company's Board of Directors has told stock exchanges that it will soon approve the stock split.

The company has said today in a stock exchange filing that “We are pleased to inform you the outcome of the meeting of Board of Directors of the Company held today as follows: 1. The Board of Directors of the Company have postponed the approval of Sub-division (split) of Equity Share of the Company having a face value of Rs. 10/- each (fully paid- up) into one (1) Equity Share of face value of Re. 1/- each (fully paid-up) & Alteration of authorized share capital clause of the Company in the Memorandum of Association and the same will be considered in next Board Meeting."

In Q2FY23, the company reported a net income of 1.53 Cr compared to 1.43 Cr posted in Q2FY22, representing a YoY growth of 7%. The company reported net expenses of 1.40 Cr in Q2FY23 compared to 1.35 Cr posted in Q2FY22, representing a YoY growth of 3.70%. The company posted an EBIT of 0.14 Cr in the quarter ended September 2022 compared to 0.07 Cr posted in the same quarter last year. The company declared a net profit of 0.12 Cr in Q2FY23 compared to 0.04 Cr posted in Q2FY22. Indo Cotspin posted an EPS of 0.28 per share in Q2FY23 as against 0.10 apiece in the year-ago quarter.

The shares of Indo Cotspin Ltd closed today at 74.00 apiece level, down by 2.89% from the previous close of 76.20 apiece on the BSE. The stock recorded a total volume of 5,237 shares compared to the 20-Day average volume of 13,209 shares. The stock has produced a multibagger return of 1,229.98% over the past three years and a multibagger return of 477.38% over the past five years. The stock has appreciated 36.62% over the past year, and on a YTD basis, the stock has gained 33.85% so far in 2022. The stock had touched a 52-week-high of 102.00 on (18/11/2022) and a 52-week-low of 14.35 on (28/07/2022), indicating that at the current market price the stock is trading 27.45% below the high and 415.67% above the 1-year low. For the quarter ended September 2022 or Q2FY23, the company declared a promoter shareholding of 59.21% and a public stake of 40.79%.

 

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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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Published: 30 Nov 2022, 10:22 PM IST
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