1:5 Bonus Share: Penny Stock Below Rs 9 Issues New Record Date, Rallies 12% YTD

Small cap stock operating in textile sector, Akshar Spintex Ltd shares hit upper circuit in trade today. Last trading price of Akshar Spintex shares on BSE is Rs 4.68 apiece. Akshar Spintex shares zoomed 12% year-to-date and declined 15% in last 1-year.

Akshar Spintex today revised the record date for 1:5 bonus share to February 8, 2024. Check details below:

Akshar Spintex Revises Record Date For 1:5 Bonus Share: As per the regulatory filing of the company dated today, "In terms of Regulation 42 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and vide resolution dated 5th January, 2024 passed by the Board of Directors of the Company, notice is hereby given that the Company has fixed Thursday, 8th 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 Received 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 has a market capitalisation of Rs 117.00 crore. Akshar Spintex shares fell 34% in last 3-months, declined 36% in last 6-months, gave return of 24% in last 2-years, and soared 277% in last 3-years. In last 5-years, Akshar Spintex stock surged 188%.

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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