Home / Markets / Stock Markets /  This stock rallies over 300% in 3 years, Board to consider bonus shares soon

With a market valuation of 9.33 Cr, Globe Commercials Ltd. is a small-cap company that operates in the commercial services industry. The company deals in sanitary ware, cotton, jute, oils, rubbers, grains, seeds, vegetable products, and other commodities related with steel and cast iron varieties. It also handles business for buyers, sellers, distributors, stockists, agents, brokers, commission agents, etc. The company disclosed that in its meeting on December 14, 2022, the board of directors would discuss bonus shares.

The company has said today in a stock exchange filing that “This is to inform that the Meeting of Board of Directors of the Company scheduled to be held on 14th December, 2022 to transact the following business: 1. To consider and recommend issue of bonus shares for approval of shareholders at the ensuing Annual General Meeting. 2. To approve the draft Addendum to the Notice of Annual General Meeting and authorize dispatch of Addendum to the shareholders. 3. Ton consider and approve the cut off date i.e. 22.12.2022 as record date for the purpose of ascertaining the entitlement of shareholders for the purpose of issue of Bonus shares. 4. To consider the appointment of Mrs. Gayatri Kataria as Company Secretary and Compliance Officer of the company. 5. Any other matter with the permission of the chair."

The shares of Globe Commercials Ltd closed today at 31.10 apiece, down by 4.89% from the previous close of 32.70. The stock recorded a total volume of 11,438 shares compared to the 20-Day average volume of 9,611 shares. The stock price climbed from 7.40 on December 26, 2019, to the current market price during the past three years, resulting in a multibagger return of 320.27%. The stock has appreciated 16.92% over the past year, and it has gained 34.05% YTD in 2022. 

The stock had touched a 52-week-high of 36.10 on (06/12/2022) and a 52-week-low of 9.08 on (06/10/2022), indicating that at the current market price the stock is trading 242.51% above the 1-year low. The company reported a promoter shareholding of 8.33% and a public stake of 91.66% in the quarter ended September 2022 or Q2FY23. At today's closing price the stock was seen trading below 5 days EMA but above the 10 days, 20 days, 50 days, 100 days and 200 days Exponential Moving Average (EMA).


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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