Double Reward Alert! 1:5 Bonus Shares & 10% Dividend Announced: Multibagger With 18,000% Returns In 5Y

Ceenik Exports' Board of Directors has approved a 1:5 bonus issue, offering shareholders 1 fully paid-up equity share for every 5 fully paid-up equity shares held on the record date. This move is part of the company's strategy to reward its shareholders and improve stock liquidity in the market. Additionally, the company has proposed a final dividend of 10%, i.e., Re. 1 per equity share for the financial year 2023-24. This dividend payout is subject to shareholder approval at the forthcoming Annual general meeting.

Ceenik Export share performance lately:

Ceenik Exports (India) Ltd has established itself as a true multibagger stock, generating an astonishing 18,488% return for its investors over the past five years. An investment of Rs.10,000 in December 2019, when the stock traded at Rs.6.78, would now be worth a jaw-dropping Rs.18,48,800. This meteoric rise cements its status as a multibagger, consistently outperforming the market and rewarding its shareholders. This year alone, the stock has delivered a phenomenal 1,021.76% return, proving to be a lucrative pick for investors.

The stocks have been profitable over the past six months as well when the share prices surge by 72.73%. However, the short term has been unsatisfactory as the stock has faced a correction, with a 12% decline this month and a 7% drop in the last five trading days.

On November 21, Ceenik Exports defied the broader market crash and closed at Rs 1,260.30, marking a 5% gain from its previous close. With a 52-week high of Rs.1,432.45 and a 52-week low of Rs.65.97, the stock reflects significant growth potential despite short-term volatility.

About Ceenik Export (India) Ltd

Ceenik Exports, established in 1995, is a Mumbai-based organization renowned for its expertise in garment manufacturing and related services. With a market capitalization of Rs.422 crore, the company has carved a niche for itself in the textile and apparel industry. According to the Dalal Street Journal, Ceenik caters to a broad spectrum of fashion and apparel demands, specializing in the production of knitted fabrics, denim jeans, T-shirts, and men's garments. In addition to its garment production, Ceenik Exports provides dyeing and printing services, enabling the company to address diverse customer needs with customized solutions.