1:1 Bonus, 1:10 Split: Rs 6-To-400, Multibagger Agro Stock At Record High, Gives 5,996% Returns From Lows

Tine Agro Ltd, engaged in the agriculture business, touched a new all-time high of Rs 408.40 apiece on March 11, ahead of its stock split and bonus shares. Following this, investors of Tine Agro have recorded remarkable gains as the stock is currently up by 5,996% from its 1-year lows.

Tine Agro Share Price:

The start of this week's trading session has been with strong bulls in Tine Agro. The stock price froze at its 2% upper circuit, at a staggering Rs 408.40 apiece on BSE.

This is also its fresh 52-week high and all-time high level. It also means that on the March 11th session, Tine Agro only saw buyers.

That being said, Tine Agro shares are up by a breathtaking 5,995.52% from its 52-week low of Rs 6.70 apiece on BSE.

The company's market cap is at Rs 1,025.63 crore.

This is an impressive journey from Rs 6 to Rs 400 in less than a year.

Tine Agro Bonus Issue:

Tine Agro is all set to turn ex-bonus on March 18, which is also its record date to determine eligible shareholders for bonus issues in the ratio of 1:1.

A 1:1 bonus ratio means that 1 (One) Bonus Equity Shares of the face value of Re. 1/- each fully paid up for every 1 (One)
existing Equity Shares of Face Value of Re. 1/- each fully paid up.

Tine Agro Stock Splits:

Also, on March 18, Tine Agro will turn ex-split in the ratio of 1:10.

A 1:10 stock split ratio means that Sub-division of 1 (One) Equity Share of the face value of Rs. 10/- each fully paid up into 10 (Ten) Equity Shares of the face value of Re. 1/- each fully paid up.

Tine Agro About Us:

Tine Agro Ltd (earlier known as Kansal Fibres Limited) was incorporated on 20 April 1994 under the provision of the Companies Act 1956 as a Public Limited Company for the objects set out in the memorandum of Association of the Company. The Company obtained the Certificate for Commencement of Business on 27 April 1994 from the Registrar of Companies, Punjab, Himachal Pradesh & Chandigarh. The Company is presently engaged in the business of Commercial Agriculture and related activities to deal in trading, export, and import of such agricultural products.

Tine Agro's Fundamentals:

As per ICICI Direct data, Tine Agro's PE (TTM) is at 176.03, while its book value is at 21.7472. The stock's ROCE and ROE are at 0.16% and 0.17%.

Compared to its peers, Tine Agro's 1-year return is around 5,210.79%, highest from Aegis Logistics whose gain is 10.99%, Adani Enterprises whose gain is 58.91%, Redington jumped 19.60%, and Cello World which has edged higher by merely 2.69%, as per the brokerage.

In the nine-months period of FY24, Tine Agro posted revenue from operations at Rs 28.70 crore versus Rs 5.52 crore in 9MFY23. Further, the company garnered a net profit of Rs 5.84 crore in 9MFY24 as against Rs 3.212 lakh in 9MFY23.

Disclaimer: The write-up highlights about the latest development in a stock split, 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.