Bonus Shares on Axita Cotton Share Price 19 December 2023
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Axita Cotton, a small-cap company in the textile sector, has been granted approval to distribute bonus shares in a general meeting. The company will distribute bonus shares to investors in a ratio of 1:3. The record date for bonus shares has also been announced.
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Axita Cotton, a textile company, announced on 12th December that the record date for bonus shares is 25th December 2023. As per the statement, “Under regulation 42 of the SEBI Regulations 2015, the company has decided the date for issuing bonus equity shares to eligible shareholders in the ratio of 1:3. The date is Monday, 25th December 2023. Under the bonus share scheme, appointed investors will receive 1 equity share instead of 3. The share is currently trading at Rs. 32.25 with a growth of 3.70%. The share price is below Rs. 40.”
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On Friday, the share price of Axita Cotton closed at Rs. 31.80, showing a decline of 4.33% from the previous closing price of Rs. 33.24. On 28th April, 2023, the share price reached a high of Rs. 83, which is also the 52-week high for the stock. On 19th May, 2023, the share price dropped to a 52-week low of Rs. 24.70.
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Axita Cotton reported a net sales of Rs. 388.78 crore in the September 2023 quarter, which is 324.23% higher than the net sales of Rs. 91.64 crore in the September 2022 quarter. The net profit of the company in the second quarter was Rs. 6.51 crore, which is 183.97% higher than the profit of Rs. 2.29 crore reported a day earlier. Interestingly, Axita Cotton is completely debt-free.
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In the September 2023 quarter, the promoters’ capital in the company remained stable at 69.97%, foreign investors’ capital at 5.32%, and public capital at 24.70%. In the June 2023 quarter, FIIs/FPIs increased their capital from 3.43% to 5.32% in the September 2023 quarter. Institutional investors have also increased their shareholding.
Exciting times for Axita Cotton shareholders as the company announces bonus shares and records impressive financial performance. Stay tuned for more updates on Axita Cotton’s stock price and market trends. ππΉπΌ
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