Axita Cotton Limited is a textile-related small-cap company with a market value of Rs. 596.66 crores. The company manufactures cotton bales and cotton seeds and mainly manufactures shank-6 and MCU-5/MECH type cotton bales. The company’s production plant is located at Kadi in Mahesana district of the state of Gujarat. The company deals in cotton, cotton bales and cotton seeds besides selling its products mostly in the states of Gujarat, Rajasthan, Maharashtra and Madhya Pradesh. As per data from Value Research, Axita Cotton Ltd. is a debt-free company, but what might seem more interesting to potential buyers is that the company’s board of directors has announced a stock split, which is the cherry on top. .
The company in a stock exchange filing today said that “The members of the company at its 9th (ninth) Annual General Meeting approved the sub-division of 1 (one) equity share each of nominal/face value 10/- each equity share of face value of 10 (ten) 1 to each. Further, to determine the names of equity shareholders entitled to the sub-division, the Board of Directors in its meeting held on 12th August, 2022, delegated the power to fix the record date to Shri Nitinbhai Govindbhai Patel, Chairman cum Managing Director. of the company The record date for the purpose of sub-division of shares as per Regulation 42 of SEBI (Listing Obligation and Disclosure Requirements), 2015 shall be Friday, the 21st October, 2022, as decided by Shri Nitinbhai Govindbhai Patel, Chairman-cum-Managing Director . ,
Shares of Exita Cotton Ltd closed at today’s level 304.00 each on NSE, up 1.20% from previous close The stock recorded a total volume of 46,151 shares compared to the 20-day average volume of 45,944 shares in 300.40 trade today. In the last 1 year, the stock has increased by 63.44% and on the basis of YTD, the stock has increased by 66.90% so far in 2022. The stock had touched a 52-week high. 347.10 at (30-August-2022) and 52-week low of 170.05 (21-Jun-2022), indicating that the stock is trading down 12.41% from the high and up 78.77% from the low at the current market price.
For the quarter ended June 2022, the company recorded promoter shareholding of 72.37%, FII of 10.02% (up 3.98% by QoQ), and public shareholding of 17.60% (down from QoQ 3.98%). The promoter stake of Axita Cotton at present level is much higher than its peers like Jindal Worldwide Ltd., Swan Energy Ltd., Garware Technical Fibers Ltd., Raymond, Go Fashion (India) Ltd. and Welspun India Ltd.
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