Home / Markets / Stock Markets /  Multibagger stock surges 472% YTD, revises record date for 1:1 bonus shares

With a market valuation of 112.14 Cr, Atam Valves Ltd. is a small-cap company that operates in the capital goods industry. One of the top producers of industrial and plumbing valves and fittings, the firm serves a variety of sectors including those that deal with steam, oil and gas, refining and petrochemicals, chemicals and pharmaceuticals, marine, mining, water and wastewater, textile, sugar, and HVAC. The board of directors of the firm changed the record date from October 12, 2022 to Monday, October 24, 2022 in order to determine the shareholders' eligibility for the 1:1 bonus shares.

The company has said today in a stock exchange filing that “Please refer to earlier intimation dated 29th September, 2022, keeping October 12, 2022 as the record date for Issue of Bonus Equity Shares, this is to inform you that Company has revised the Record Date to Monday, October 24, 2022 as the “Record Date" for the purpose of ascertaining the eligibility of Shareholders entitled for issuance of fully paid up Bonus Shares in the ratio of 1:1 (i.e. issue of 1 (One) equity share for every existing 1 (One) equity shares held of Rs. 10/- each as on the above -mentioned record date). Accordingly, the revised record date is on Monday, October 24, 2022, which is in compliance with the Regulation 42 of the SEBI (Listing Obligations and Disclosure Requirements) 2015."

The shares of Atam Valves Ltd closed today on the BSE at an upper circuit level of 271.85 apiece, up by 4.98% from the previous close of 258.95. The stock had a total volume of 16,500 shares traded today. Over the previous two years, the stock price has gone up from 40 on October 9, 2020, to the present market price, delivering a multibagger return with an all-time high of 579.63%. Over the course of the previous year, the stock's price skyrocketed from 50 on October 7, 2021, to the current market price, achieving a multibagger return of 443.70%. 

The stock price has gone up from 47.50 on January 3, 2022, to the current market price on a year-to-date basis, representing a multibagger return of 472.32% so far in 2022. The corporation reported a promoter shareholding of 72.73% for the quarter that ended in June 2022 and a public shareholding of 27.27%. In comparison to competitors like Exide Industries Ltd, Motherson Sumi Wiring India Ltd, Uno Minda, Bosch, and Samvardhana Motherson International Ltd, the promoter stake of Atam Valves is significantly higher at this level.

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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