Small-cap company Shree Ajit Pulp & Paper Ltd. operates in the consumer discretionary goods and services (CDGS) industry and has a market valuation of Mr. Ajit is one of India’s top producers of 166.59 crore multi-layer kraft paper. Testliner (Single Wire) and Multilayer Testliner (Triple Wire) are produced by the firm with GSM range of 80-300 and BF range of 20-35. The firm can produce up to 1,08,000 tonnes annually.
The Board of Directors of the Company on October 28, 2022 considered and approved that “To raise funds by way of issue and allotment of Equity Shares having a face value of Rs. 10.00/- (Rupees Ten only) (‘Equity Shares’) Rs. 20,00,000,000/- (Rupees Twenty Crore only) on rights issue basis, on such terms and conditions as may be decided by the Board of Directors of our Company to the eligible equity shareholders of the Company as on the record date are (to be notified later) applicable regulatory, subject to receipt of statutory approvals, in accordance with the provisions of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, Securities and Exchange Board of India (Listing Obligation) and Disclosures Requirements), Regulations, 2015, and the Companies Act, 2013 and the Rules made thereunder, as amended from time to time, (‘Rights Issue’). Constitution of a “Rights Issue Committee” to decide on the detailed terms and conditions of the issue. , including appointment of various arbitrators but also modalities/schedule of payment, record date, time, other rules and is not limited to fixed conditions and all others. related matters, etc.”
Shares of Shree Ajit Pulp & Paper Ltd closed on BSE on Friday 311.00 each, up 0.44% from previous close 309.65. In its previous trading session, the stock recorded a total volume of 1,681 shares as compared to the 20-day average volume of 1,292 shares. In the last 1 year, the stock has fallen 4.44% and on YTD basis, the stock has fallen 5.17% so far in 2022. The stock had touched a 52-week high. 52-week low of 414.00 on (18/01/2022) and On 253.05 (21/06/2022), it shows that the stock is trading 24.87% below the high and 22.90% above the low at the current market price. For the quarter ended September or Q2FY23, the company reported promoter stake of 55.60% and public stake of 44.41%.
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