The shares of Axita Cotton Limited were trading marginally higher at Rs 374 levels on Tuesday morning. In the past month, the stock has zoomed by approximately 22 percent. On a Year to Date (YTD) basis, the stock has delivered a multibagger return of 342 percent to its investors.
Axita Cotton Limited is engaged in the business of manufacturing, processing, and finishing cotton bales and cotton seeds.
The board of directors of the company has approved a stock split. The stocks will be split in the ratio of 1:10. This means that the shares will be subdivided from the existing Rs 10 per equity share into 10 shares of Re 1 per equity share. For this purpose, the record date has been set as 21st October 2022.
A year ago the stock was trading at Rs 42 a piece on BSE. From there it has spiked up to the current levels logging a multibagger return of 792 percent in a year.
If an investor had invested Rs 1 lakh in the company last year their investment would be worth Rs 8.92 lakhs today.
The stock started trading on NSE in June 2022. The stock started trading at Rs 182 on the exchange and has risen to the current levels representing a multibagger return of 102 percent in four months.
In Q1FY23, the company reported total revenue of Rs 204 crores up from Rs 127 crores Year on Year (YoY). Their net profit in the period stood at Rs 4 crores up from Rs 2 crores in Q1FY22.
The company has a market capitalization of Rs 738 crores and a dividend yield of 0.13 percent as of October 18th, 2022. The promoters hold a 72.37percent stake in the company while the Foreign Institutional Investors (FIIs) hold a 10.02 percent stake.
Written by Anoushka Roy
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