Multibagger stock to consider stock split, bonus share after 900% YTD return
1 min read . Updated: 01 Nov 2022, 07:27 AM IST
Premium- Multibagger stock: Small-cap company is going to consider the stock split proposal in its upcoming board meeting scheduled on 10th November 2022
Multibagger dividend paying stock: Alstone Textiles (India) shares are one of the multibagger stocks that Indian stock market has produced in 2022. The small-cap textile stock is in news these days for hitting upper circuit on a regular basis. The board of directors of the company has announced to consider stock split in 10:1 ratio. The small-cap company board has also announced to consider issuance of bonus shares. Final decision in regard to stock split and bonus share issue will be taken in upcoming board meeting scheduled on 10th November 2022.
The small-cap company informed Indian stock market exchanges in regard to stock split and bonus shares citing, "We wish to inform you that the meeting of Board of Directors of the company is scheduled to be held on Thursday 10 November, 2022 at 3: P.M at the Registered Office of the Company situated at R815, New Rajinder Nagar, New Delhi."
The small-cap company went on to add that the scheduled meeting on 10th November 2022 will consider the following proposals:
1] Approval for Sub-Division of Equity Shares from the face value of Rs. 10/- per share to Rs. 1/- per share.
2] Approval for increase in the Authorized Share Capital of the Company and the alteration of Capital clause of Memorandum of Association of the Company.
3] Declaration of Bonus Issue of Equity Shares.
Alstone Textiles share price history
The textile stock has doubled shareholders' money in last one month after rising from around ₹67 to ₹159.60 apiece levels, delivering near 140 per cent in this time. In year-to-date (YTD) time, this multibagger stock has risen from around ₹16 to ₹159.60 per share levels, logging more than 900 per cent surge in 2022.
The small-cap stock is available for trade on BSE only. It ended with a market cap of ₹203 crore on Monday deals while its trade volume on Monday was 71,916, which is lower than its last 20 sessions' average trade volume of 80,276. The small-cap stock is currently standing at a PE of 22 while the sector PE is 11.86. The small-cap multibagger stock is currently at its life time high whereas its 52-week low is ₹10 per share.
