Multibagger Stock: Alstone Textiles share is one of the multibagger stocks in the Indian stock market that has been in the news for hitting the upper circuit on a regular basis. However, this stock is now going to make headlines for another reason. The Board of Directors of the small-cap company has approved and declared Bonus Shares in the ratio of 9:1 and Stock Split in the ratio of 1:10. This means, the board of the small-cap company has approved 9 bonus shares on the record date of bonus shares for each share held by the shareholder and its existing one share will be divided into 10 shares. The Board of the Company has fixed 3 December 2022 as the record date for issue of Bonus Shares and Stock Subdivision.
This means that an eligible investor will get 10 equity shares with a face value of Re 1 for every one share of the company having a face value of Rs. 10 they have, and the cherry on top would be 9 bonus shares of face value 1 on each share after distribution.
Small-cap company gave information to Indian Share Market Quoting the Exchange regarding Bonus Shares and Stock Split Approval, “The Board of Directors in its meeting held today i.e. November 10, 2022 which commenced at 03:OO PM and ended at 03:20 PM, inter alia Simultaneously considered and approved the following: 1. Approval for stock split (sub-division of equity shares) of the face value of 1 (a) equity share of the company 10/- each in 10 (ten) equity shares of face value of Rs. 11- Each, subject to the approval of the shareholders and other approvals as may be necessary. The date of record in this regard shall be fixed by the Board and shall be communicated for exchange.”
The small-cap company informed that the Board of the Company has approved issue of bonus shares of equity shares in the ratio of 9 equity shares of face value of Re 1 each for every equity share of Re 1 held by the shareholders of the Company. As on the record date, subject to the approval of the shareholders i.e. in compliance with applicable laws.
In Q2FY23, the small-cap company reports outstanding quarterly numbers 8 crore in the recent quarter. The company’s next quarter is also expected to be as good as the current quarter due to the company’s ongoing business in the overseas and domestic textile market.
alstone textile share price
As mentioned above, the Alstone Textiles share price has been climbing to its record highs, hitting the upper circuit on a regular basis. This small-cap stock has delivered returns of over 1,300 percent year-over-year (YTD) time to its shareholders as it has risen from approx. from 15.75 224.30 each level in this time. It ended Thursday with a market cap of 285 crores and on Thursday its trade volume was around 1.13 lakhs.
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