Suryamba Spinning Mills Limited is a small-cap company with a market capitalization of 55 crores who works in the textile industry. Suryamba is a state-of-the-art production plant geographically located at Nayakund near Ramtek in Nagpur district (Maharashtra). The company is a leading manufacturer of specialized synthetic spun yards, producing 14400 million tonnes. Tons of quality yarns per year, including 100% polyester and viscose spun yarn as well as blended synthetic yarns.
On May 16, 2022, the Board of Directors of the company recommended a final dividend of Rs. 1/- per equity share with a face value of Rs. 10/- for the financial year ended 31st March, 2022, subject to the approval of the shareholders at the next 15th Annual General Meeting (AGM). For dividend purpose, the company has recently fixed the record date as 2nd July 2022.
“Furthermore, in accordance with the provisions of section 108 of the Companies Act, 2013 and rule 20 of the Companies (Management and Administration) Rules, 2014 (amended), the company has set Saturday, the 02nd July, 2022 as the cut-off To ascertain the eligibility of the members of the company entitled to vote electronically on the proposals mentioned in the AGM notice, in accordance with the procedure and other details mentioned in the AGM notice,” the company said in a BSE exchange filing.
Shares of Suryamba Spinning Mills have given multibagger returns of 102.68 per cent to shareholders last year and multibagger returns of 226.6 per cent in the last three years. Year-on-Year (YTD), the stock has fallen 0.60 per cent so far in 2022, but has gained 3.47 per cent in the past six months. The stock has lost 10.34 per cent in the past month and 5.45 per cent in the last five trading days. closed on stock 189.10 on Friday, down 3.08 percent from the previous close 195.10. Based on the past traded price, the shares of Suryamba Spinning are trading weaker than the 5-day, 20-day, 50-day, 100-day and 200-day moving averages.