3:1 Bonus Share & 1:2 Stock Split: Multibagger SME Stock Hit an All-Time High on February 18
Kiran DSIJCategories: Bonus and Spilt Shares, Multibaggers, Trending
The stock has given multibagger returns of 155 per cent in just 6 months and a whopping 215 per cent in 1 year.
On Wednesday, shares of Avax Apparels and Ornaments Ltd jumped 5 per cent and hit an all-time high of Rs 297.95 per share.
Avax Apparels and Ornaments Limited has announced a strategic restructuring of its share capital through a stock split and a subsequent bonus issue, both subject to shareholder approval. The company plans to sub-divide each existing equity share with a face value of Rs 10 into two equity shares with a face value of Rs 5 each. Following this 1:2 split, the company will issue bonus equity shares in a 3:1 ratio, granting three new bonus shares for every single share held at the post-split face value of Rs 5. While these new shares will rank pari-passu in all respects with existing holdings, the specific record dates for both the sub-division and the bonus entitlement are to be announced in due course.
About the Company
Established in 2005, Avax Apparels and Ornaments Ltd (AAOL) operate a diverse business model focused on both industrial textiles and consumer retail. The company specialises in the wholesale trading and manufacturing of knitted cloth in Punjab, primarily supplying materials used for ladies' and gentlemen's jackets. Complementing its textile operations, AAOL maintains a digital presence in the luxury market through its e-commerce platform, blushines.com, where it retails a wide selection of silver ornaments and jewellery to a broad customer base.
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Add NowThe company has a market cap of Rs 31 crore with a PE of 16x, an ROE of 33 per cent and an ROCE of 44 per cent. The stock has given multibagger returns of 155 per cent in just 6 months and a whopping 215 per cent in 1 year.
Disclaimer: The article is for informational purposes only and not investment advice.