2023-12-16 15:08:16
Axita Cotton Announces Bonus Shares, Record Date Set for Allotment
Axita Cotton has declared a reward for its shareholders in the form of bonus shares, as well as set a record date for the allotment of these additional shares. Shareholders who hold the company’s shares on December 25, 2023, will be eligible to receive one new bonus share for every three shares held, translating to a 3:1 ratio for bonus share allocation.
This announcement comes on the heels of the company’s strong performance in the second quarter of the fiscal year 2023-24. Axita Cotton posted impressive financial results, with a year-on-year revenue growth of 324.23 percent, amounting to Rs 388.78 crore. The company’s operating profit stood at Rs. 152.87 crore, and its profit after tax (PAT) increased by 184.07 percent to reach Rs. 6.51 crore.
Over the past five years, Axita Cotton’s shares have delivered multi-bagger returns of over 1400 percent, making it an attractive option for investors. However, the company’s stock price experienced a 5.41% decline on Friday, closing at Rs 31.45. Despite this, market analysts suggest monitoring this penny stock closely, given its recent substantial gains.
Axita Cotton is primarily involved in the trading of cotton bolls, cotton bales, and cotton seeds, as well as the ginning and pressing of kabas on a job-by-job basis. Additionally, the company manufactures cotton bales and cotton seeds.
As always, investors are encouraged to conduct thorough research and consider all factors before making any investment decisions. This article is for informational purposes only and is not intended as investment advice.
#Multibagger #Penny #Stock #Ready #Buy #Bonus. #25th #December #Mother #multibagger #penny #stock #firm #announced #bonus #share #investors #check #record #date #details