1:5 Bonus Issue: Penny Stock Sets Feb 5 As Record Date, Zooms 261% In 3-Yrs

Small cap stock from the textile sector, Akshar Spintex Ltd shares today hit 5.00% lower circuit. Last trading price of Akshar Spintex share on BSE is Rs 4.34 apiece. The company has a market capitalisation of Rs 108.50 crore. Akshar Spintex declined 17% in last 1-year and gained 261% in last 3-years. Akshar Spintex approved bonus share in the proportion of 1:5 implying shareholders will be eligible to receive 1 bonus share for every 5 shares held on Feb 5, that is the record date. Check details below:

Akshar Spintex Sets Record Date For 1:5 Bonus Share: As per the regulatory filing of the company dated Jan 9, 2024, "Board of Directors of the Company, notice is hereby given that the Company has fixed Monday, 5th February, 2024 as the "Record Date" for the purpose of determining the eligibility of shareholders for issuance of Bonus Equity Shares of the Company in the ratio of 01:5 i.e. 01 (One) Equity Shares of Re. 1/- each for every 5 (Five) existing Equity Share of Re. 1/- each held as on the above mentioned record date. You are requested to take note of the same."

Akshar Spintex Bagged International Order On Nov 21: As per the regulatory filing of the company, "We are delighted to announce a significant achievement for Akshar Spintex Ltd, underscoring our unwavering commitment to growth and excellence in the textile industry. This milestone involves the supply of high-quality yarn to various fast fashion brands through a globally recognized client, renowned for its association with prestigious fashion labels. The total value of this substantial international order stands at Rs. 171,17,50,000. This considerable order serves as a testament to the global acknowledgment of the quality, reliability, and competitiveness of Akshar Spintex Ltd's products in the international textile market."

Akshar Spintex Stock Outlook & Return: The 52-week high price of Akshar Spintex share on BSE is Rs 8.40 apiece and 52-week low price is Rs 3.86 apiece, respectively. Akshar Spintex shares declined 31% in last 3-months, fell 37% in last 6-months, gave return of 14% in last 2-years, and rallied 261% in last 3-years. In last 5-years, Akshar Spintex stock zoomed 171%.

Akshar Spintex About: It has total 24,480 spindles with annual production 7500 MT in cotton yarn for its count range is 16's to 44's Ne contamination Controlled auto coned carded, semi comed and combed mill with all latest German and Japanese technology machineries. Because of increased demand of value added quality yarns the company has decided to increase the capacity of value added yarn. The company has decided to make Carded, Combed, Slub yarn, Core yarn, TFO(Doubling) yarn, Eli Twist yarn, Fancy yarn, Melange yarn, Blended yarn, BCI and Organic Certified yarn, according to its official website.

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The stock just highlights the dividend, bonus share, and is not a recommendation to buy, sell or hold. We have not done fundamental or technical analysis and have no opinion on the stock mentioned. Neither, the author nor Greynium Information Technologies should be held liable for any losses. Please consult a professional advisor.