{"id":114356,"date":"2023-11-24T14:17:50","date_gmt":"2023-11-24T08:47:50","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=114356"},"modified":"2023-11-24T14:17:56","modified_gmt":"2023-11-24T08:47:56","slug":"penny-stock-jumps-3-after-it-announces-bonus-issue-of-13","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/penny-stock-jumps-3-after-it-announces-bonus-issue-of-13\/","title":{"rendered":"Penny stock jumps 3% after it announces bonus issue of 1:3\u00a0"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-3051006469\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>The shares of this textile industry jumped around 3 percent after the board recommended the issuance of bonus equity shares in the ratio of 1:3.&nbsp;<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-1703673345\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div><p>With a market capitalization of Rs. 557 crores, the shares of <strong><a href=\"https:\/\/portal.tradebrains.in\/stock\/AXITA\/consolidated\" target=\"_blank\" rel=\"noreferrer noopener\">Axita Cotton Ltd<\/a><\/strong> started Friday\u2019s trading session positively at Rs. 30.05 compared to its previous close at Rs. 29.25. The share hit a high of Rs. 30.25 making a gain of around 3 percent and currently trading at Rs. 29.25 apiece.\u00a0<\/p><p>Such a positive movement was observed after the board recommended the issuance of bonus equity shares. The company\u2019s board approved and recommended the issue of bonus equity shares in the ratio of 1:3, i.e.,1 bonus equity share of Rs. 1 for every 3 fully paid-up equity shares of Rs. 1 each held to the shareholders as on the record date as may be decided by the Board of Directors after approval of Shareholders.&nbsp;<\/p><p>Looking at the financials of the company, the revenue magnified by 70 percent from Rs. 227 crores during Q1 FY24 to Rs. 388 crores during Q2 FY24. Moreover, the net profit increased by 13 percent from Rs. 5.75 crores to Rs. 6.51 crores during the same timeframe.&nbsp;<\/p><div class=\"trade-content_5\" id=\"trade-3838930444\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>Coming onto the important financial ratios, the return on equity (RoE) was at 38.44 percent in FY 22-23, and keeping the timeframe same, the return on capital employed (RoCE) was recorded at 6.51 percent.&nbsp;<\/p><p>According to the latest shareholding pattern, the Promoters have a 69.97 percent stake in the company, FIIs have 5.32 percent shares and the remaining 24.71 percent are with the Retail Investors.&nbsp;<\/p><p>Headquartered in Gujarat, Axita Cotton Ltd was incorporated in 2013. The company is engaged in the manufacturing, processing, finishing, and trading of cotton bales, cotton yarns, and cotton seeds in India. The company also engages in the ginning and pressing of seed cotton on a work basis.&nbsp;<\/p><blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p><strong>Written By Vaibhav Patil<\/strong><\/p><\/blockquote><h4 class=\"wp-block-heading\" id=\"h-disclaimer\"><strong>Disclaimer<\/strong><\/h4><div class=\"wp-block-image\"><figure class=\"aligncenter size-medium\"><img decoding=\"async\" width=\"300\" height=\"300\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2022\/02\/warning-disclaimer-300x300.png\" alt=\"\" class=\"wp-image-26306\"\/><\/figure><\/div><p><strong>The views and investment tips expressed by investment experts\/broking houses\/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.<\/strong><\/p><div class=\"trade-after-content\" id=\"trade-3630342449\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>The shares of this textile industry jumped around 3 percent after the board recommended the issuance of bonus equity shares in the ratio of 1:3.&nbsp; With a market capitalization of Rs. 557 crores, the shares of Axita Cotton Ltd started Friday\u2019s trading session positively at Rs. 30.05 compared to its previous close at Rs. 29.25. [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":20788,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[31,1789],"tags":[14670,12663,12662,948,936],"class_list":["post-114356","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-trending-news","tag-axita-cotton-bonus-issue","tag-axita-cotton-latest-news","tag-axita-cotton-share-price","tag-stock-market","tag-stock-market-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Penny stock jumps 3% after it announces bonus issue of 1:3\u00a0 - Trade Brains Features<\/title>\n<meta name=\"description\" content=\"The shares of this textile industry jumped around 3 percent after the board recommended the issuance of bonus equity shares in the ratio of 1:3.\u00a0\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tradebrains.in\/features\/penny-stock-jumps-3-after-it-announces-bonus-issue-of-13\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Penny stock jumps 3% after it announces bonus issue of 1:3\u00a0\" \/>\n<meta property=\"og:description\" content=\"The shares of this textile industry jumped around 3 percent after the board recommended the issuance of bonus equity shares in the ratio of 1:3.\u00a0\" \/>\n<meta property=\"og:url\" content=\"https:\/\/tradebrains.in\/features\/penny-stock-jumps-3-after-it-announces-bonus-issue-of-13\/\" \/>\n<meta property=\"og:site_name\" content=\"Trade Brains Features\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/TradeBrainsOfficial\/\" \/>\n<meta property=\"article:published_time\" content=\"2023-11-24T08:47:50+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-11-24T08:47:56+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2022\/02\/Markets-up-Cover-Image.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"854\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Trade Brains\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@TradeBrainsGrp\" \/>\n<meta name=\"twitter:site\" content=\"@TradeBrainsGrp\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Trade Brains\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/tradebrains.in\/features\/penny-stock-jumps-3-after-it-announces-bonus-issue-of-13\/\",\"url\":\"https:\/\/tradebrains.in\/features\/penny-stock-jumps-3-after-it-announces-bonus-issue-of-13\/\",\"name\":\"Penny stock jumps 3% after it announces bonus issue of 1:3\u00a0 - 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