Bonus Issue Likely Today: Textile Stock Rallies 9% Today, Soars 1829% In 3-Yrs

MK Exim (India) Limited shares witnessed a sharp rally of 9% intraday as board of directors of the company are scheduled to hold a meeting today to consider and approve bonus shares. Current market price of MK Exim share is Rs 126.65 apiece on BSE. MK Exim (India) shares soared 22% in last 1-week and gained 53% in last 6-months. Its market capitalisation is Rs 340.83 crore. Check details below:

MK Exim (India) Limited To Consider, Approve Bonus Issue Today: As per the exchange filing of the company dated November 27, 2023, "a meeting of the board of directors of the Company is scheduled to be held on Saturday, December 2, 2023:

1. To consider and approve the issue of Bonus Shares by capitalizing the reserves;

2. To appoint M/s Vora Vora and Associates (FRN:140953W), Chartered Accountants as Branch Auditors of the Company for its Mumbai Branch for audit of accounts for FY 2023- 24 and to hold office till conclusion of next AGM;

3. To increase in the authorized share capital of the Company from Rs. 30,00,00,000/- (Rupees Thirty Crores Only) to Rs. 60,00,00,000/- (Rupees Sixty Crores Only) by creation of additional 3,00,00,000 (Three Crore) Equity Shares of Rs. 10/-(Rupees Ten Only) each subject to the approval of the members."

MK Exim Stock Outlook & Return: The stock's 52-week high price is Rs 134.70 per share and 52-week low price is Rs 72.50 per share, respectively. M K Exim shares offered shareholders return of 40% in last 1-year, gained 200% in last 2-years, and surged 1829% in last 3-years. MK Exim share rallied 3096% in last 5-years. MK Exim stock have been maintaining an upward rally ahead of the bonus issue.

MK Exim Recent Quarterly Results: The small cap textile firm declared its net sales at Rs 26.54 crore for September 2023 period, up 3.09% as against Rs 25.75 crore in September 2022. Its quarterly net profit announced at Rs 4.14 crore for September 2023, down 0.53% as against Rs 4.17 crore in the similar quarter of last year. The company's EBITDA stood at Rs 5.77 crore in September 2023, up 1.05% from Rs 5.71 crore declared in September 2022. Its EPS (earning per share) declined to Rs 1.54 in September 2023 from Rs 1.55 in September 2022.

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