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Business News/ Markets / Stock Markets/  Textile stock is 35% above 52-week-low, Board to recommend bonus shares soon

With a market valuation of Rs. 631.54 Cr., Gloster Ltd. is a small-cap company that engages in the textile industry. The company manufactures and exports all varieties of jute and jute-related products, including woven and non-woven jute geotextiles, treated fabric-rot proof, fire retardant, jute products.

The company has said in a stock exchange filing that “This is to inform you that a Meeting of the Board of Directors of the Company will be held on Monday, the 7th November, 2022 to consider amongst other businesses: 1. The adoption of the Un-audited Financial Results for the half year ended 30th September, 2022. 2. Declaration of Bonus Shares to the equity shareholders of the Company. Further, in continuation to our letter of even no. GL/AA/2022-2023/0465 dated 21st September, 2022, it is again informed that the Trading Window for dealing in securities of Gloster Limited is already closed for Designated Persons and their Immediate Relatives w.e.f. 1st October, 2022 and shall open after 48 hours after the public announcement of outcome of Board Meeting for the above referred businesses."

The shares of Gloster Ltd closed on Friday at 1,155.30 apiece, down by 1.71% from the 1,175.45. In its last trading session, the stock recorded a total volume of 1,292 shares compared to the 20-Day average volume of 586 shares. In the last 5 years, the stock has fallen 5.55% and in the last 1 year, the stock has gained 2.84%. 

On a YTD basis, the stock has gained 7.55% so far in 2022. The stock had touched a 52-week-high of 1,350.05 on (04/04/2022) and a 52-week-low of 850.00 on (20/06/2022), indicating that at the current market price the stock is trading 14.50% below the high and 35.78% above the low. For the quarter ended September or Q2FY23, the company reported a promoter shareholding of 72.63%, DIIs holding of 14.79% and a public stake of 12.57%.

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Vipul Das
Vipul Das is a Digital Business Content Producer at Livemint. He previously worked for (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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Updated: 29 Oct 2022, 11:09 PM IST
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